In the murky business of waiving off bank loans, the incumbent government has put to shame the record of hundreds of private companies.
Documents submitted in the Senate revealed on Friday that whereas private companies managed to get over Rs50 billion in bank loans waived off over the last three decades, the present government has written off over Rs280 billion in bank loans over a three-year period.
In response to a question posed by Senator Azam Swati, Finance Minister Ishaq Dar in a written reply suggested that some 400 corporate enterprises had gotten their loans written off in the last 30 years.
But in stark contrast loans exceeding Rs280 billion were written off in the three-year-tenure of the PML-N government. Of this, Rs270 billion was waived off in 2015, Rs4.4 billion in 2014 and Rs6 billion in 2013.
Those who got loans written off from NBP include; Afsar textile Mills Ltd Rs 51.188 million, Pakistan National Produce Company Ltd Rs 77.207 million, N& E Importers Lts Rs 198.792 million, D & D Wholesale (Glasgow) Ltd Rs 135.917 million, WAPDA Rs 133.038 million, Drupatex (HK) Dan Exports Rs 106.996, Habib Arkady Rs 71.304 million, Malik International Ind (Pvt.0 Rs 68.38, Punjab Corporation Rs 360.56, Bannu Sugar Mills (Pvt) Ltd Rs 249.727, Metropolitan Steel Corp Rs 181.305 million, Haroonur Rashid Textile Mills Ltd Rs 133.514 million, Larkana Woolen Mills Rs 128.144 million, Naseer Ahmed & Company Rs 96.463 million, Mak Dyeing & Finishing Mills Rs 75.801 million, Hayat Textiles Rs 110.064 million, Harrapa Textile Mills Rs 160.424 million, Harrapa Textile Mills Rs 90.121, NON NO Co Ltd Rs 73.646 million, Allied Textile Mills Rs 296.801 million, VIU Wing Const. Co Ltd Rs 134.409 million, Abdulla Saleh Rs 123.998 million, Ahsan Industries Rs 72.134 million, Okara Textile Mills Rs 126.517 million and General Nile Delta Bux Co Rs 51.821 million.
