ISLAMABAD – The joint committee of the government and the PML-N will today (Tuesday) finalise a list of loans waived off on political grounds, and sort out differences on the accountability bill. An informed source said the two parties would discuss the mechanism of recovery of waived off loans, as the government was of the opinion that recovery was not possible without bringing in a legislation allowing the recovery of the written off loans.
“At present, there is no law under which a loan waived off by a bank can be recovered,” the source said. Since the loan recovery could not be referred to banks, law enforcement agencies or the National Accountability Bureau, the PML-N is likely to propose the constitution of a judicial commission to determine and recover the loans, the source said. The government would present an analysis of the top 100 loans waived off by every bank.
The banks were granted power to waive off non performing loans (NPLs) in 2004 by the Musharraf government. The committee would also discuss irritants in the proposed accountability law, which the PML-N had proposed should be same for all cadres and services, including bureaucrats and politicians.
