Four terrorism-hit districts of Malakand Agency: Rs 1,098 billion loans written off, Senate told

By terrorism watch -
Finance Minister Dr Abdul Hafeez Sheikh has said that banks and financial institutions have written off Rs 1.098 billion loans of 13,464 borrowers of four terrorism-hit districts of Malakand Agency.
Replying to a question during question hour in the Senate on Friday, he gave district-wise details of subsidy reimbursed to the banks and institutions on account of loans written off in Maslakand, Swat, Buner and Chitral districts through budgetary support under fiscal relief for Khyber Pakhtoonkhwa, FATA and PATA.Hafeez said that a summary regarding writing off loans worth additional Rs 400 million is with the Prime Minister and approval would be made in a couple of days.

He said that after approval, residents of other districts including Bajaur will also be benefited in this regard.The Minister informed the Senate that Habib Bank (HBL) was given Rs 19.41 million subsidy for loans writing off of 63 borrowers of Malakand District, Rs 12.32 million subsidy for 209 borrowers in Swat District, Rs 5.43 million subsidy for 93 borrowers in Buner District Rs 13.33 million subsidy for 62 borrowers in Chitral district.The MCB Bank (MCB) was given Rs 1.93 million subsidy for writing off loans of one borrower in Swat District.

Meezan Bank was given Rs 5.31 million subsidy for writing off loans of 9 borrowers in Swat District.

The Summit Bank was paid Rs 0.54 million subsidy for writing off loans of 3 borrowers in Swat District.

Soneri Bank was given Rs 0.91 million subsidy for writing off loans of 7 borrowers in Chitral District.The First Microfinance Bank was given Rs 148.84 million subsidy for writing off loans of 7,597 borrowers in Chitral District, Bank Alfalah got Rs 0.20 million from the government for writing off loans of 2 borrowers in Malakand District, subsidy Rs 89.77 million was given for writing off 37 borrowers loans in Swat District, Rs 1.35 million subsidy for writing off 2 borrowers loans in Buner District and Rs 18.91 million subsidy for writing off loans of 17 borrowers in Chitral District.Hafeez said that Khushali Bank was given Rs 0.12 million subsidy for writing off 22 borrowers' loans in Malakand District, and United Bank Rs 3.12 million for writing off loans of 5 borrowers in Swat District.

The Bank of Khyber wrote off loans of 41 borrowers loans amounting subsidy of Rs 27.01 million in Malakand District, 78 borrowers' loans amounting subsidy of Rs 54.21 million in Swat District and 606 borrowers' loans involving subsidy of Rs 171.08 million in Chitral District.House Building Finance Corporation (HBFC) wrote off 70 borrowers' loans with subsidy of Rs 19.05 million in Malakand District, 110 borrowers in Swat District involving subsidy Rs 31.14 million, 7 borrowers in Buner District with subsidy of Rs 0.26 million and 100 borrowers loans in Chitral district with subsidy of Rs 20.06 million.

The NIB Bank wrote off loans of 3 borrowers in Swat District involving subsidy of Rs 0.63 million.

National Bank (NBP) wrote off loans of 981 borrowers amounting subsidy Rs 61.60 million in Malakand District, 1444 borrowers amounting subsidy Rs 91.41 million in Swat District, 193 borrowers amounting subsidy Rs 12.25 million in Buner District and 1680 borrowers amounting subsidy Rs 133.70 million in Chitral.

Faysal Bank wrote off loan of 1 borrower amounting subsidy Rs 2.81 million in Swat District.
Source: http://www.brecorder.com/money-a-banking/single/635/198/1150784/

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