Tag: Loans

A citizen from Swat has appealed to the Supreme Court for implementation of the government order to waive off loans of people in the...

Finding the performance of the bank’s staff and Pakistani officialdom unsatisfactory, the Asian Development Bank (ADB) completion report on Pakistan infrastructure development has advised...

The government budgetary borrowings from the banking system have witnessed a sharp rise of 75 per cent or Rs316.823 billion and have skyrocketed to...

The banks’ budgetary lending to the resource-constrained government has exceeded the rare Rs700 billion mark due to, what the economic observers believe, mass distortions...

The State Bank of Pakistan (SBP) on Friday directed all the banks and the development finance institutions (DFIs) to immediately submit the entire record...

The State Bank of Pakistan (SBP) on Thursday, allowed microfinance banks (MFBs) to treat gold as eligible collateral while calculating their Capital Adequacy Ratio...

The Supreme Court on Wednesday directed the Sate Bank of Pakistan (SBP) governor to consult all stakeholders and issue a new circular for the...

A petition was filed in the Supreme Court’s Lahore registry on Saturday for the recovery of Rs 518 billion loans allegedly sanctioned to various...

Upon learning that many of the big loans written off by commercial banks were approved on insufficient guarantees, the Supreme Court (SC) decided on...

Given its ever increasing budgetary requirements, the cash strapped federal government is left with no viable option other than to borrow from ‘risk-averse’ commercial...

The federal government, through State Bank of Pakistan (SBP) on Wednesday, borrowed over Rs 23.463 billion from scheduled banks by auctioning the long-term investment...

KARACHI - Pakistan has recorded 51 percent decline in the disbursement of foreign loans and assistance in eight months of the ongoing financial year. From July to February during the current financial year, Pakistan has received only $1.337 billion from donors and multilateral lenders. In the last financial period, the country has received $2.741 billion from July-Feb period, Pakistan Today learnt on Thursday. A fifty one percent decline in the disbursement of foreign loans and credit

ISLAMABAD - Pakistan Muslim League-Nawaz (PML-N) Information Secretary Ahsan Iqbal on Monday asked the government to link new foreign loans with approval of the parliament. In a statement, he said Pakistan is already over burdened and added that no new loan should be taken without approval of the Parliament. He said PML-N would move a motion in the Parliament for checking government's unchecked borrowing which has put the country in a debt trap.
It is to mention here that the

ISLAMABAD - The Supreme Court on Friday directed the governor of the State Bank of Pakistan (SBP) to request Justice (r) Jamshed Ali to head the commission for recovery of Rs 256 billion loans written off by various banks from 1971 to 2009.
A two-member bench comprising Chief Justice Iftikhar Muhammad Chaudhry and Justice Ghulam Rabbani gave the direction after Additional Attorney General KK Agha informed the court that Justice (r) Saleem Akhtar, who was nominated to head the

KARACHI - Bad debts of the country's banks and development financial institutions (DFIs) have increased by Rs 54 billion to Rs 562.404 billion in second quarter of the current fiscal year, ranging from October 1 to December 31, 2010-11. Bankers and analysts believe that such an exorbitant growth in NPLs is likely to hurt the country's businesses. "This is not good. They should keep it (NPLs) below five percent - between three to four percent of their net loans," viewed former State

KARACHI - The Non Performing Loans (NPL) in the SME Sector registered an increase of over Rs 5.1 billion ballooning to Rs 96 billion by end of December 2010. According to a report prepared by the SBP SME Finance Department, NPLs increased from Rs 91.6 billion at the end of December 2009 to 96.5 Billion at the end of December 2010, constituting about 19.4 percent of total NPLs incurred by the banking industry.
The recorded quarterly increase was 5.4 percent compared to a rise of

ISLAMABAD - The Supreme Court of Pakistan on Monday ordered the State Bank of Pakistan (SBP) to establish a commission to probe into the case of written off loans. A two-member bench of the Supreme Court headed by the chief justice was conducting hearing on cases of written off loans. SBP lawyer Syed Iqbal Haider submitted that according to the bank's circular No 29, loans could be written off in certain conditions. The CJP, however, said that the misuse of the circular would be