Tag: Loans
SSUET students to be provided interest-free soft loans
KARACHI - The Sir Syed University of Engineering and Technology (SSUET)'s Board of Governors approved the proposal of Ihsan Trust for financial assistance for SSUET students.
Accordingly, Ihsan Trust - through Meezan Bank - will provide interest-free soft loans to SSUET students selected by the university on merit-cum-need basis for continuation of their studies.
The university is also providing scholarships reducing almost half the tuition fee while remaining half or part
Accordingly, Ihsan Trust - through Meezan Bank - will provide interest-free soft loans to SSUET students selected by the university on merit-cum-need basis for continuation of their studies.
The university is also providing scholarships reducing almost half the tuition fee while remaining half or part
PPCBL secures bad loans
LAHORE - The Punjab Provincial Cooperative Bank Ltd (PPCBL) has recovered the blocked and chronic loan worth Rs 2.05 billion. This was stated in a meeting held under the chairmanship of Minister for Cooperatives and Agriculture Punjab Malik Ahmad Ali Aulakh, in connection with the performance of Cooperative Department and the Punjab Provincial Cooperative Bank Ltd.
On this occasion, the minister was informed that the bank has issued the load of Rs 2.15 billion to 93,487 small
On this occasion, the minister was informed that the bank has issued the load of Rs 2.15 billion to 93,487 small
Loans worth Rs 74 billion written off in 2008-09, SC told
ISLAMABAD - The Supreme Court was informed on Monday that loans worth Rs 74 billion of 454,737 borrowers were written off during 2008-09. A four-member bench of Chief Justice Iftikhar Muhammad Chaudhry, Justice Muhammad Sair Ali, Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday was hearing a case pertaining to Rs 256 billion worth written-off loans.
Syed Iqbal Haider, counsel for the State Bank of Pakistan submitted a report before the court consisting of five volumes on
Syed Iqbal Haider, counsel for the State Bank of Pakistan submitted a report before the court consisting of five volumes on
Govt, PML-N to finalise recovery of politically-waived loans today
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
"At present, there is no law under
SC seeks report on loans waived in last 2 years
ISLAMABAD - The Supreme Court (SC) on Monday directed the State Bank of Pakistan to provide details of bank loans waived off during the last two years and observed that it could go to any extent for the recovery of the
public's money.
A four-member bench of Chief Justice Iftikhar Muhammad Chaudhry, Justice Muhammad Sair Ali, Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday, was hearing a suo motu case initiated on news reports saying loans worth Rs 54 billion had
public's money.
A four-member bench of Chief Justice Iftikhar Muhammad Chaudhry, Justice Muhammad Sair Ali, Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday, was hearing a suo motu case initiated on news reports saying loans worth Rs 54 billion had
PIA owes Rs 139,614m in foreign, domestic loans
ISLAMABAD - Defence Minister Ahmad Mukhtar on Monday informed the Lower House of parliament that the state-run-airliner owed Rs 139,614 million on account of domestic and foreign loans as of November 30, 2010.
In a written statement, the minister said it was a common practice for airlines globally to acquire aircraft fleet on credit or lease (project financing). In line with this practice, the PIA had also financed its acquisition of Boeing 777 fleet, ATR fleet and Airbus A-310
In a written statement, the minister said it was a common practice for airlines globally to acquire aircraft fleet on credit or lease (project financing). In line with this practice, the PIA had also financed its acquisition of Boeing 777 fleet, ATR fleet and Airbus A-310
World Bank unveils $1.72b loans to India
NEW DELHI - The World Bank on Friday announced $1.72 billion in loans to India, including $1.5 billion to build 24,000 kilometres (14,880 miles) of roads across seven states of the country. The global lending agency also provided $255 million to the first phase of an Indian project to mitigate effects of cyclones, World Bank President Robert Zoellick said after the signing of the two separate agreements.
The bank said in a statement that the roads aid was likely to benefit more
The bank said in a statement that the roads aid was likely to benefit more
Bad loans surge to Rs 494b during July-Sept
KARACHI - With unprecedented floods and rains intensifying an already fragile macro-economic environment of the country, the non-performing loans (NPLs) of the banking system surged by 7.4 percent to Rs 494 billion during July-September 2010.
According to the State Bank of Pakistan (SBP), the persistent macro-environment issues would pose a stiff challenge for some banks to enhance their minimum capital requirement (MCR) to Rs 7 billion by the end of calendar year 2010.
According to the State Bank of Pakistan (SBP), the persistent macro-environment issues would pose a stiff challenge for some banks to enhance their minimum capital requirement (MCR) to Rs 7 billion by the end of calendar year 2010.
China mark up rise talk builds as loans, inflation swell
BEIJING: China is likely to raise interest rates in the coming days in a demonstration of the government's resolve to tame inflation, an official newspaper said on Tuesday.
In a banner headline across its front page, the China Securities Journal said this weekend offered a "sensitive window" for a rate rise, which would be the country's second following a surprise increase in October, the central bank's first rate hike since 2007.
An increase in rates would also put flesh
In a banner headline across its front page, the China Securities Journal said this weekend offered a "sensitive window" for a rate rise, which would be the country's second following a surprise increase in October, the central bank's first rate hike since 2007.
An increase in rates would also put flesh
Bad loans surge by Rs 33 billion in the third quarter...
KARACHI: The non-performing loans of banks have registered the highest increase in the third quarter of 2010 compared to those of last five quarters.
The NPLs for all banks surged by Rs 33 billion and aggregated to Rs 509 billion in the third quarter of 2010 (July-September), while the average accretion under this category for the past five quarters was Rs 19 billion. The gross non-performing loans of banks had swelled to Rs 476 billion in June 2010 and further surged to Rs 509
The NPLs for all banks surged by Rs 33 billion and aggregated to Rs 509 billion in the third quarter of 2010 (July-September), while the average accretion under this category for the past five quarters was Rs 19 billion. The gross non-performing loans of banks had swelled to Rs 476 billion in June 2010 and further surged to Rs 509
Loans waived on political basis can’t be overlooked: CJP
ISLAMABAD: The issue of waived-off loans on political basis cannot be overlooked neither would anyone be spared in this regard, Chief Justice of Pakistan Iftikhar Muhammad Chaudhry said on Friday.
The CJP made these observations while heading a three-member Supreme Court bench - consisting of Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday - which is hearing a suo motu case initiated on news reports regarding the waiving off of loans worth Rs 54 billion.
The bench
The CJP made these observations while heading a three-member Supreme Court bench - consisting of Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday - which is hearing a suo motu case initiated on news reports regarding the waiving off of loans worth Rs 54 billion.
The bench
Banks to consult counsels to secure written off loans
KARACHI
The heads of different banks informed the State Bank of Pakistan (SBP) that they would hold consultations with their legal counsels and key management officials regarding recovery of the written off loans in light of the order issued by the Supreme Court of Pakistan.
The chiefs of various banks promised commitment to adhere to the directives of the Supreme Court in order to recover loans, written off in the past. The bank officials discussed these issues at a
The heads of different banks informed the State Bank of Pakistan (SBP) that they would hold consultations with their legal counsels and key management officials regarding recovery of the written off loans in light of the order issued by the Supreme Court of Pakistan.
The chiefs of various banks promised commitment to adhere to the directives of the Supreme Court in order to recover loans, written off in the past. The bank officials discussed these issues at a
Government urged to write off all loans in flood-affected regions
ISLAMABAD
National Assembly Standing Committee on Food and Agriculture on Friday urged the government to waive all agriculture loans issued in the flood ravaged areas of the country.
The meeting which was held here under the chairmanship of Javed Iqbal Warraich discussed steps taken by the government of Pakistan, Zarai Taraqiati Bank Limited (ZTBL) and Insurance companies to compensate affected farmers.
Total agriculture loans granted in flood affected areas are about
National Assembly Standing Committee on Food and Agriculture on Friday urged the government to waive all agriculture loans issued in the flood ravaged areas of the country.
The meeting which was held here under the chairmanship of Javed Iqbal Warraich discussed steps taken by the government of Pakistan, Zarai Taraqiati Bank Limited (ZTBL) and Insurance companies to compensate affected farmers.
Total agriculture loans granted in flood affected areas are about
List of companies whose loans were written off by banks
ISLAMABAD
Following is the list of the companies, which had got their loans written off. The State Bank of Pakistan had submitted this list of top 50 public and private companies in the Supreme Court. The list also includes the names of the owners and directors of the companies.
Loans write offs under Banking Companies Ordinance-29 (BPD) among top 50 write offs of Banking Sector: Mercury Garments Industries (Badr-uz-Zaman, Javed Sultan, Muhammad Asif, Muhammad Razi, Muhammad
Following is the list of the companies, which had got their loans written off. The State Bank of Pakistan had submitted this list of top 50 public and private companies in the Supreme Court. The list also includes the names of the owners and directors of the companies.
Loans write offs under Banking Companies Ordinance-29 (BPD) among top 50 write offs of Banking Sector: Mercury Garments Industries (Badr-uz-Zaman, Javed Sultan, Muhammad Asif, Muhammad Razi, Muhammad
Overseas Banks despair after non-performing loans almost double
Foreign banks in Pakistan have reported 91 percent increase in their ratio of non-performing loans (NPLs) to total loans during the last year.
In June 2009-10 the NPL ratio was 4.5 percent that had surged to 8.6 percent by June 2010, exposing an alarming increase of 91.1 percent one year.
In comparison to domestic banks, the foreign banks have reported a much higher increase in their NPL ratio.
By June 2010, the non-performing loans of the foreign banks amounted to
In June 2009-10 the NPL ratio was 4.5 percent that had surged to 8.6 percent by June 2010, exposing an alarming increase of 91.1 percent one year.
In comparison to domestic banks, the foreign banks have reported a much higher increase in their NPL ratio.
By June 2010, the non-performing loans of the foreign banks amounted to
