Rs285b loans written off so far during PML-N tenure - 92 NEWS Report
- Thread starter Rameez Chaudhry
- Start date
Will_Bite
Prime Minister (20k+ posts)
Just wondering out loud. If citibank wrote off loans, how is that related to the govt? Citibank is a private bank, not govt owned. And the govt cannot force any private bank to write off a loan, unless the govt has given a sovereign guarantee on that.
Back in 1992, PMLN forced private banks to dole out loans for the failed yellow cab scheme by underwriting a sovereign guarantee. Unless something similar has happened in this case, I dont see any issue with this.
Back in 1992, PMLN forced private banks to dole out loans for the failed yellow cab scheme by underwriting a sovereign guarantee. Unless something similar has happened in this case, I dont see any issue with this.
Zesh Zeshu
Senator (1k+ posts)
Jhot ki b koi intiha hoti and jhotay pay khuda ki ***** jo marzi jiuesa marzi jhot bol day koi ask karnay wala ni
Zesh Zeshu
Senator (1k+ posts)
Better read this thread now admin will not merge this new thread because its Anti PMLN
http://www.siasat.pk/forum/showthre...about-Loans-written-off&p=4086629#post4086629
One must should share the true story not just the lies here is the official reply of state bank of Pakistan and also official remarks shared by Ahsan IQbal at his official page
Ahsan Iqbal
''
Baseless news item that Rs 280 billion written off under PMLN govt in last 3 yrs being circulated by e section of media & PTI. Here is a clarification by SBP rejecting the report. I hope those who propagated will have moral courage to apologise.
KARACHI: The State Bank of Pakistan (SBP) has clarified that the reports appearing in various sections of the press on July 23, 2016 regarding `Loans written-off during last 30 years' by Banks/DFIs are `factually incorrect and misleading'.
In a statement here on Monday, the SPB clarified that during the aforesaid period, for amounts of Rs 50 million and above, the total amount of written-off loans/waiver of mark-up/other charges amounts to Rs. 171 billion and not Rs. 430 billion as reported in the press.
[FONT="]Similarly, during the last three years, banks/ DFIs written-off loans/ waiver of mark-up/other charges amounted to Rs. 20 billion and not Rs 280 Billion, the SBP statement said adding that the written off amounts are Rs 5.91 billion for 2013, Rs 4.518 billion for 2014 and Rs 9.815 billion for 2015, quite in contrast to the exaggerated amounts stated in the press.
[/FONT]
The press has reported the banks write-offs in generic terms without delving into the details of principal, mark-up and other charges waived off by the banks. Whereas in a large number of cases, quoted by the press, the amount written off pertains to mark-up and other charges only.
It would be pertinent to mention here that more than 80% of the banking sector operating in Pakistan is now owned by the private sector and the rest by the public sector which are both duly monitored and guided by their respective board of directors. The financial institutions, despite their best efforts, have to write-off some loans which are irrecoverable due to some bonafide business reasons i.e. adverse business cycle, deteriorated economic conditions, changes in policy, global environment etc., the SBP statement added.
It said that the writing-off of loans by the banks is a common practice all across the globe and Pakistani banks are no exception.
The banks have to provide for their loan losses under the State Bank of Pakistan Prudential Regulations and more than 80% of the non-performing loans are fully provided for.
Further, as a matter of transparency, banks/DFIs disclose the details of written-off loans of Rs. 0.5 million and above in their published Annual Audited Financial Statements, the SBP statement concluded.
http://www.brecorder.com/pakistan/ba...off-loans.html
http://www.siasat.pk/forum/showthre...about-Loans-written-off&p=4086629#post4086629
One must should share the true story not just the lies here is the official reply of state bank of Pakistan and also official remarks shared by Ahsan IQbal at his official page
Ahsan Iqbal
''
Baseless news item that Rs 280 billion written off under PMLN govt in last 3 yrs being circulated by e section of media & PTI. Here is a clarification by SBP rejecting the report. I hope those who propagated will have moral courage to apologise.
KARACHI: The State Bank of Pakistan (SBP) has clarified that the reports appearing in various sections of the press on July 23, 2016 regarding `Loans written-off during last 30 years' by Banks/DFIs are `factually incorrect and misleading'.
In a statement here on Monday, the SPB clarified that during the aforesaid period, for amounts of Rs 50 million and above, the total amount of written-off loans/waiver of mark-up/other charges amounts to Rs. 171 billion and not Rs. 430 billion as reported in the press.
[FONT="]Similarly, during the last three years, banks/ DFIs written-off loans/ waiver of mark-up/other charges amounted to Rs. 20 billion and not Rs 280 Billion, the SBP statement said adding that the written off amounts are Rs 5.91 billion for 2013, Rs 4.518 billion for 2014 and Rs 9.815 billion for 2015, quite in contrast to the exaggerated amounts stated in the press.
[/FONT]
The press has reported the banks write-offs in generic terms without delving into the details of principal, mark-up and other charges waived off by the banks. Whereas in a large number of cases, quoted by the press, the amount written off pertains to mark-up and other charges only.
It would be pertinent to mention here that more than 80% of the banking sector operating in Pakistan is now owned by the private sector and the rest by the public sector which are both duly monitored and guided by their respective board of directors. The financial institutions, despite their best efforts, have to write-off some loans which are irrecoverable due to some bonafide business reasons i.e. adverse business cycle, deteriorated economic conditions, changes in policy, global environment etc., the SBP statement added.
It said that the writing-off of loans by the banks is a common practice all across the globe and Pakistani banks are no exception.
The banks have to provide for their loan losses under the State Bank of Pakistan Prudential Regulations and more than 80% of the non-performing loans are fully provided for.
Further, as a matter of transparency, banks/DFIs disclose the details of written-off loans of Rs. 0.5 million and above in their published Annual Audited Financial Statements, the SBP statement concluded.
http://www.brecorder.com/pakistan/ba...off-loans.html
Agreed! Sahi Kaha Jhooton(PMLN Inc) pe Khuda ki ******.
Zesh Zeshu
Senator (1k+ posts)
included not just party every person I have shaerd the official report bring up the factual report which says they had written off 280 B
مجھے یقین ہے کہ ترینی موڈ آپکی پوسٹ کو جلد ہی ڈیلیٹ کر دیں گے ،،عمران نیزی خود بھی پرلے درجے کا جھوٹا اور اس کے متوالے اس سے بڑے جھوٹے ۔
Better read this thread now admin will not merge this new thread because its Anti PMLN
http://www.siasat.pk/forum/showthre...about-Loans-written-off&p=4086629#post4086629
One must should share the true story not just the lies here is the official reply of state bank of Pakistan and also official remarks shared by Ahsan IQbal at his official page
Ahsan Iqbal
''
Baseless news item that Rs 280 billion written off under PMLN govt in last 3 yrs being circulated by e section of media & PTI. Here is a clarification by SBP rejecting the report. I hope those who propagated will have moral courage to apologise.
KARACHI: The State Bank of Pakistan (SBP) has clarified that the reports appearing in various sections of the press on July 23, 2016 regarding `Loans written-off during last 30 years' by Banks/DFIs are `factually incorrect and misleading'.
In a statement here on Monday, the SPB clarified that during the aforesaid period, for amounts of Rs 50 million and above, the total amount of written-off loans/waiver of mark-up/other charges amounts to Rs. 171 billion and not Rs. 430 billion as reported in the press.
[FONT=&]Similarly, during the last three years, banks/ DFIs written-off loans/ waiver of mark-up/other charges amounted to Rs. 20 billion and not Rs 280 Billion, the SBP statement said adding that the written off amounts are Rs 5.91 billion for 2013, Rs 4.518 billion for 2014 and Rs 9.815 billion for 2015, quite in contrast to the exaggerated amounts stated in the press.
[/FONT]
The press has reported the banks write-offs in generic terms without delving into the details of principal, mark-up and other charges waived off by the banks. Whereas in a large number of cases, quoted by the press, the amount written off pertains to mark-up and other charges only.
It would be pertinent to mention here that more than 80% of the banking sector operating in Pakistan is now owned by the private sector and the rest by the public sector which are both duly monitored and guided by their respective board of directors. The financial institutions, despite their best efforts, have to write-off some loans which are irrecoverable due to some bonafide business reasons i.e. adverse business cycle, deteriorated economic conditions, changes in policy, global environment etc., the SBP statement added.
It said that the writing-off of loans by the banks is a common practice all across the globe and Pakistani banks are no exception.
The banks have to provide for their loan losses under the State Bank of Pakistan Prudential Regulations and more than 80% of the non-performing loans are fully provided for.
Further, as a matter of transparency, banks/DFIs disclose the details of written-off loans of Rs. 0.5 million and above in their published Annual Audited Financial Statements, the SBP statement concluded.
http://www.brecorder.com/pakistan/ba...off-loans.html
Better read this thread now admin will not merge this new thread because its Anti PMLN
http://www.siasat.pk/forum/showthre...about-Loans-written-off&p=4086629#post4086629
One must should share the true story not just the lies here is the official reply of state bank of Pakistan and also official remarks shared by Ahsan IQbal at his official page
Ahsan Iqbal
''
Baseless news item that Rs 280 billion written off under PMLN govt in last 3 yrs being circulated by e section of media & PTI. Here is a clarification by SBP rejecting the report. I hope those who propagated will have moral courage to apologise.
KARACHI: The State Bank of Pakistan (SBP) has clarified that the reports appearing in various sections of the press on July 23, 2016 regarding `Loans written-off during last 30 years' by Banks/DFIs are `factually incorrect and misleading'.
In a statement here on Monday, the SPB clarified that during the aforesaid period, for amounts of Rs 50 million and above, the total amount of written-off loans/waiver of mark-up/other charges amounts to Rs. 171 billion and not Rs. 430 billion as reported in the press.
[FONT=&]Similarly, during the last three years, banks/ DFIs written-off loans/ waiver of mark-up/other charges amounted to Rs. 20 billion and not Rs 280 Billion, the SBP statement said adding that the written off amounts are Rs 5.91 billion for 2013, Rs 4.518 billion for 2014 and Rs 9.815 billion for 2015, quite in contrast to the exaggerated amounts stated in the press.
[/FONT]
The press has reported the banks write-offs in generic terms without delving into the details of principal, mark-up and other charges waived off by the banks. Whereas in a large number of cases, quoted by the press, the amount written off pertains to mark-up and other charges only.
It would be pertinent to mention here that more than 80% of the banking sector operating in Pakistan is now owned by the private sector and the rest by the public sector which are both duly monitored and guided by their respective board of directors. The financial institutions, despite their best efforts, have to write-off some loans which are irrecoverable due to some bonafide business reasons i.e. adverse business cycle, deteriorated economic conditions, changes in policy, global environment etc., the SBP statement added.
It said that the writing-off of loans by the banks is a common practice all across the globe and Pakistani banks are no exception.
The banks have to provide for their loan losses under the State Bank of Pakistan Prudential Regulations and more than 80% of the non-performing loans are fully provided for.
Further, as a matter of transparency, banks/DFIs disclose the details of written-off loans of Rs. 0.5 million and above in their published Annual Audited Financial Statements, the SBP statement concluded.
http://www.brecorder.com/pakistan/ba...off-loans.html
So According to this clarification The loans written off amounting total 20Billion in last 3 years. The Question remains 280 Billion or 20 Billion who are these people/companies who's loans were written off & why? Was it on the basis of political affiliation with sitting government or what else?
Citizen X
(50k+ posts) بابائے فورم
Sir G tussi bohat hi bholay ho agar app ko nahi pata ke yeh Nooro ki money laundering machine kasay chalti hai. This is their SOP from day 1, take huge loans from banks private or govt, launder the money away into foreign accounts and get that loan written off, indar se sub millay we hote hain, aur sub ko apna hissa milta hai.
Easiest way to become a billionaire overnight if you are in govt.
