The fourth part of the IDBP
seminar will be held in Rome in July 2018.
IDBP is wholly-owned by the Government of Pakistan with 57 percent of its shares held by federal government, 36 percent by the State Bank of Pakistan and 7 percent by provincial governments and other public sector corporations.
IDBP has also the unique distinction of financing the first-ever development projects for a diversified list of products.
Reviewing the audit reports of Industrial Development Bank of Pakistan (IDBP), it was briefed to the committee that the Bank had to bear a loss of Rs1.08 billion due to loan cases written off.
The IDBP also suffered losses of Rs106.311 million, loss of Rs102.932 million, loss of Rs90.395 million, Rs42.375 million and Rs32.106 million due to non-recovery from different borrowers.
Although development finance institutions continue to be as indispensable as ever, the institutions functioning in this field, including the IDBP, appear to have lost their initiative in so far as long term financing of industrial projects is concerned.
The non-performing loans in the balance sheet of the IDBP are stated to be sizeable, which are unquestionably the liability of the federal government which owns this institution.
From the start IDBP
began to play its role with courage and determination and started attracting new entrepreneurs from trade and industry.
However, after the eighties, IDBP
promoted manufacturing and non-conventional sub-sectors to diversify its portfolio.
To effectively address itself to these new challenges, IDBP
management responded creatively by diversifying business to encompass in its operational purview the functions performed by a merchant and investment bank.
Abdur Rahman, Managing Director, IDBP
while addressing 30th Annual General Meeting of the Bank's Shareholders held at Lahore recently.
is a major financier of leather tanneries in the formal sector.