SBP, commercial banks discuss written-off loans

Staff Report

KARACHI: The State Bank of Pakistan (SBP) and commercial banks on Monday decided to share data and other necessary details regarding written-off loans with the apex court.

The decision was made at a meeting attended by SBP Governor Shahid Hafiz Kardar and chiefs of commercial banks.

The meeting was called to devise a strategy on the issue of waived loans as instructed by the Supreme Court.

The meeting was told that the banks had already issued notices to bank defaulters in line with court’s directions.

The representatives of the banks told the meeting that a loan is written off after following set procedures. The permission to waive loans is granted by banks’ boards, the meeting was told.

The meeting was told that several renowned industrialists had to face the jail and their properties were auctioned. SAMAA

Imran warns of protest if Zardari visits UK

LAHORE: Chairman Tehreek-e-Insaf Imran Khan Sunday warned that a strong protest would be staged in case President Zardari went ahead with his scheduled visit to the UK.

Addressing his party’s worker convention here, Imran Khan pointed out that the whole country is in the grip of worst floods that unleashed widespread devastation. In view of these circumstances, President Zardari should suspend his planned visit to the UK, he asserted.

He said people are dying due to severe floods, needing government’s help, but the ruler’s focus is on the proxy war of the US.

Imran Khan demanded of the country’s politicians to bring in light the details of their properties outside the country.

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