Rana, who had moved the calling attention notice regarding inadequate laws for recovery of loans from defaulters including waived off loans by the government, claimed that a textile miller who owns Hameed Textile had got Rs650 million written off
from the bank despite business still running as usual.
Later, Speaker National Assembly Ayaz Sadiq forwarded the matter of written off
loans and non-recovery of loans to standing committee on Finance.
The council said debt is always pursued but for a number of reasons, like being unable to trace offending parties, some debts have to be written off
In 2008, the apex court took suo motu proceedings on the loans written off
under the said circular.
A spokesperson for Ceredigion Council, who overpaid PS1,594,015 and wrote off PS56,939, said there were 11 different reasons money was written off
The Finance Ministry said yesterday that it has written off
loans worth SR 1.
9 million debt will be written off
upon entry of the agreement into force.
The City said that since the first exercise where the debts of pensioners were written off
, there were instances where pensioners/welfare clients were disconnected because failing to pay their accounts.
There was also a 22% increase in cancelled mortgage debts, with pounds 163m written off
during the three months, although the figure was dwarfed by credit card write-offs.
Twelve of the 72 purchase transactions were not recorded on the year-end financial statements at all because all the goodwill was written off
in the same year as the purchase.
KARACHI, July 13 -- The Public Accounts Committee (PAC) of National Assembly has expressed dismay over the written off
loans during successive governments from 1985-2007 Monday.
However the senior official at Mashreq making the claim said the company does not anticipate any spike in revenue; the decrease will be caused by old debt having been written off
, and fewer new defaults.