PTI govt loaned $3b to 600 people without interest: report

[FOOLS_NIGHTMARE]

NA committee asks for details of people who took the loans

National Assembly’s standing committee on finance was told on Thursday that $3 billion were given out as interest-free loans in the last government’s tenure.

The revelations were made in a meeting of the committee which the deputy governor also attended.

The committee chairman said that the loans had been issued by the State Bank and claimed that the bank had a list of the people the money had been given.

However, the deputy governor said that the loans had been issued by commercial banks. He added that the Temporary Economic Refinance Facility (TERF) had been given during the Covid-19 pandemic.

He also added that the loans had been given to the business community because investment had dipped during the pandemic.

Dr. Nafisa Shah asked the governor to detail the terms of the loans that had been provided but he declined, saying that the information was confidential and banks are bound to keep it secret.

State Minister for Finance Aisha Ghaus Pasha said that the details could be revealed in an in-camera session. Committee Chairman Qaiser Sheikh, therefore, directed the deputy governor to give a detailed briefing on the matter.

PTI govt loaned $3b to 600 people without interest: report

NA committee asks for details of people who took the loans

www.aajenglish.tv

 

[Gripen9]

Were these loans then forgiven as had been done in the past by Nooras & Jiyalas?

 

[El Sidd]

Brilliant.

This is the only appreciable acts of the previous government. A sound investment which will bring a return far exceeding the expectations.

I would suggest that they make it their next mandate during elections. People would vote for anyone willing to do business without interest.

 

[BamsiBey]

Investing in people and state institutions vs increasing army generals plots vs money laundering outside the country.

Guess which one will bring economic prosperity?

 

[Ghareeb_Da_Baal]

Brilliant.

This is the only appreciable acts of the previous government. A sound investment which will bring a return far exceeding the expectations.

I would suggest that they make it their next mandate during elections. People would vote for anyone willing to do business without interest.

patwaris has a different angel on it.............. patwari is all about making that extra pond of maas

 

[Crimson Blue]

He also added that the loans had been given to the business community because investment had dipped during the pandemic.

So loans were given out during pandemic as economic stimulus just like they did here in US (I actually received some funds myself by US treasury). And these loans resulted in increase in exports in Pakistan during pandemic

That was so terrible of PTI. Bad PTI, bad PTI.

 

[S.Y.A]

So loans were given out during pandemic as economic stimulus just like they did here in US (I actually received some funds myself by US treasury). And these loans resulted in increase in exports in Pakistan during pandemic

That was so terrible of PTI. Bad PTI, bad PTI.

of course bad pti.

they should have done something like benazir income support program, where they steal zakat money and pay 2000-2500 to the poor in the name of a corrupt dead witch. the joke is that the people working in BISP (govt guys) get paid very high allowances. all the zakat money is spent on the undeserving. a major, major sin.

 

[Jango]

The committee chairman said that the loans had been issued by the State Bank and claimed that the bank had a list of the people the money had been given.

However, the deputy governor said that the loans had been issued by commercial banks. He added that the Temporary Economic Refinance Facility (TERF) had been given during the Covid-19 pandemic.

I know who I'd rather believe.

And this was a stimulus package that was provided by countries all around the globe during COVID.

The headline really does do justice.

 

[Riz]

And who are the one who are donating free ata of billions of dollars ? Lakh fe lanat tuhady tay

 

[muhammadhafeezmalik]

$3bn loan at zero interest rate under Imran government: NA panel asks SBP to submit list of 600 borrowers ​

The representative of the SBP said that the facility was provided by commercial banks during corona. Commercial banks very thoughtfully provided loans to experienced people, he added.



He said that all details can be provided to the committee in an in-camera meeting.


Under the Banking Companies Ordinance, credit information is confidential. However, the SBP would follow the directions of the Finance Committee, he maintained. The chairman of the committee wanted that the SBP should submit a list of loans and on what terms and conditions it was provided.


The chairman of the committee and members raised serious questions as to what is preventing the government from appointing president NBP, president ZTBL, and members of the Competition Commission of Pakistan (CCP). The minister said that process for the appointment of president ZTBL and NBP president is being expedited. She said that this is the prerogative of the government.


She admitted that these are governance-related issues but added that once the entire cycle for the appointment was completed which was subsequently re-advertised due to some issue.


The appointment of NBP president was re-advised and at this point in time the case is with the State Bank of Pakistan (SBP) for clearance under fit and proper criteria. She said that an assessment of fit and proper criteria is under process for the appointments of both the ZTBL and NBP presidents. She said that currently it is being run by the acting president.


With regard to the appointment of the members of the CCP, she said that a total of 190 applications were received and the selection committee has been constituted and the process would be completed as early as possible.


The chairman of the committee expressed serious concern over no appointment of NBP president, Zarai Taraqiati Development Bank, and CCP there is only one chairperson in the board of five members and four members have not been appointed.


On the issue of the pension of the ex-NBP employees, a senior official of the NBP bank informed the committee that as per their directives, first meeting with the representative of pensioners was held.


The pensioners’ representatives were informed that a decision to this effect would be taken by the Board of the bank and the pensioners agreed that the board has to resolve it.


The chairman of the committee stated that this matter is pending for many years and the court has also ruled in favour of the pensioners and the bank has filed a review.


Aisha Pasha stated that the pensions and National Saving Schemes (NSS) have been digitalised and if a pensioner wants it can get a cheque book or ATM card and they have to inform the national saving schemes that his profit should be transferred to the pension account and they are not required to visit the national saving center.


Minister of State for Finance Minister Dr Aisha Ghaus Pasha informed that the government is not considering any scheme to give one-time permission to the accountholders to deposit cash foreign currency in their bank accounts without asking the source of the foreign exchange.


“The IMF has strictly barred the government from announcing any amnesty scheme. The fund is extremely against such amnesty schemes. Therefore, the government is not considering any scheme for the accountholders”, she said.


Chairman Forex Dealers Associations Malik Boston said that the biggest problem of the country is dollars and stated that they came to help the government in this regard through an agreement as was done in 1998 after the country faced a similar challenge following nuclear tests.


He said that we are giving $400 million and could increase the amount to $1 billion besides providing dollars to the public. Pakistan is not getting the benefits of being calamity-hit area but so far only $800 million out of the total pledges made.

$3bn loan at zero interest rate: NA panel asks SBP to submit list of 600 borrowers

ISLAMABAD: The National Assembly Standing Committee on Finance, Thursday, directed the State Bank of Pakistan (SBP)...

www.brecorder.com

 

[Riz]

who donated free laptops and now donating billons of dollars free ata ? bap ka maal ha kia ?

 

[redgriffin]

As someone who worked in the banking sector and am still closely associated with the financial industry & SBP, just one request:
"Jab kissi cheez ka pata na ho tu aisay moun bhar k nahi bol daiatay."
The candidates for both banks had been finalised, their FPT processes started then the almighty Finance Minister came & derailed the process cause "winkwink". New finalised candidates are close to you know who & their FPT will be "managed".
Same situation as the Digital Bank Licenses fiasco where SBP's internal merit list of applicants was totally ignored & licenses awarded to those parties who were way down the list & LOL some who even were not on the list.
Baat kertay haen ye patwari mouth pieces.

 

[Signalian]

NA committee asks for details of people who took the loans

National Assembly’s standing committee on finance was told on Thursday that $3 billion were given out as interest-free loans in the last government’s tenure.

The revelations were made in a meeting of the committee which the deputy governor also attended.

The committee chairman said that the loans had been issued by the State Bank and claimed that the bank had a list of the people the money had been given.

However, the deputy governor said that the loans had been issued by commercial banks. He added that the Temporary Economic Refinance Facility (TERF) had been given during the Covid-19 pandemic.

He also added that the loans had been given to the business community because investment had dipped during the pandemic.

Dr. Nafisa Shah asked the governor to detail the terms of the loans that had been provided but he declined, saying that the information was confidential and banks are bound to keep it secret.

State Minister for Finance Aisha Ghaus Pasha said that the details could be revealed in an in-camera session. Committee Chairman Qaiser Sheikh, therefore, directed the deputy governor to give a detailed briefing on the matter.

PTI govt loaned $3b to 600 people without interest: report

NA committee asks for details of people who took the loans

www.aajenglish.tv

PTI following military foot steps, but for PTI boyses if military does it, its bad, if its PTI does it, its sunnah.

 

[Riz]

PTI following military foot steps, but for PTI boyses if military does it, its bad, if its PTI does it, its sunnah.

Is bechary ko koi boot sungao fouji iski halat kharab ho rahi ha

 

[Neelo]

Interest-free loans are loans that let you borrow money without additional interest charges. This means you'll only be responsible for repaying the funds you borrowed.

This is not free money being handed out.

GHQ bots and Amritsari Dalla Party supporters don’t know how to read. All they know is how to STEAL and SIPHON OFF money from the state to offshore accounts.

The article itself even explains why Interest free loans were given.

Is bechary ko koi boot sungao fouji iski halat kharab ho rahi ha

That’s because he himself is a benefactor of this system. Probably comes from a long line of corrupt Faujeets who steal money from the state and then open Papa John’s in Virginia somewhere.