No discrimination against companies regarding rescheduling of loans: SBP

February 1, 2018

ISLAMABAD: Senate Standing Committee on Finance and Revenue Thursday was informed that no discrimination was made against any company regarding rescheduling of loans and that State Bank of Pakistan was not dictating banks in this regard.

Discussing the agenda on discriminatory treatment being meted out with some private companies namely Omni Group, Pale etc, Deputy Governor, Jameel Ahmed told the committee that it was the matter between banks and the borrowers, and the banks were strictly fallowing rules and regulations set by the SBP regarding rescheduling of loans and classification of the borrowers.

“We are national institution and so far as rescheduling of loans, I am publicly announcing that the SBP is not dictating any bank against any company,” Jameel added.

Representative of Omni Group infomred the committee that there were around 26 companies to which the government was giving extra favor. However, the SBP deputy governor said that he would look into the matter, and if any such extra favor was found he would take action.

Chairman of the committee, Senator Saleem H Mandviwala exressing concerns over the matter said that if such discrimination continued, then the business of the companies would be closed.

Deputy Governor SBP explained that if no interest was being paid by the company within 90 days, then the company was classified as sub standard, whereas if it did not pay the interest in one year then it is classified as loss.

Saleem Mandviwala said that there was need to review the rules and regulations of SBP in this regard to further facilitate the businessmen.

Meanwhile, Senator Hidayatullah presented a report before the committee regarding appointments against the vacant posts in Federally Administered Tribal Area (FATA).

According to report as many as 9000 posts are lying vacant in all agencies of FATA out of which approval for appointment on 2300 posts has been made.

Senator Hidayatullah said that in the first phase out of 2300 posts, 1440 candidates would be appointed in education and health sectors.

He said with the appointments, all schools and hospitals in FATA would be made functional.

He said during current month advertisements would be published in national dailies to fill 1440 vacant posts.

Earlier the committee also offered Fateha for Senator Saifullah Khan Bangish who died on Thursday.

The meeting was also attended by Senators Ilyas Ahmed Bilour, Muhammad Mohsin Khan Leghari, Ayesha Raza Farooq, Kamil Ali Agha, Saud Majeed, Osman Saifullah Khan, Barrister Murtaza Wahab, and Nauman Wazir Khattak. – APP


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