
‘Stance of ZTBL misreported'
The fact is that as many as 27,537 loan case files were burnt in 2007 by protesters after the assassination of former prime minister Mohtarma Benazir Bhutto Shaheed. The number of burnt files has gradually been reconstructed and reduced to 5201 by recovering the outstanding loan amount.
The amount outstanding and recoverable against the remaining 5201 burnt and 790 missing files (out of over 600,000 borrowers) is Rs1,167 million only, which comes to less than Rs195,000/- per borrower as all these loans are small loans to farmers. As stated above ZTBL is recovering/adjusting residual amount in all above such cases in due course of time accordingly.
Copyright Business Recorder, 2025
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
11 hours ago
- Business Recorder
Housing finance subsidy scheme approved: Steel sector revival plan okayed by ECC
ISLAMABAD: The Economic Coordination Committee of the Cabinet endorsed the report of the Ministry of Commerce for the revival of steel sector and approved a mark-up subsidy and risk-sharing scheme for affordable housing finance. A meeting of the ECC was held on Friday under the chairmanship of Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb to deliberate on a range of important agenda items concerning industrial growth, environmental policy, skill development, housing finance, and telecommunications. The ECC reviewed and endorsed a report presented by the Ministry of Commerce on industrial competitiveness and export-led growth of the steel sector, in alignment with the National Tariff Policy 2025–30, aimed at reducing production costs and enhancing export competitiveness. Iron and steel industry: MoC proposes massive changes in tariff structure The committee also approved a summary by the Ministry of Commerce for filing an appeal in the Supreme Court of Pakistan against the decision of the Lahore High Court (LHC) regarding the grant of gas/RLNG tariff concessions to M/s Ghani Glass Ltd. The committee found the appeal tenable in light of the fact that concessionary energy tariffs for five export-oriented sectors have already been withdrawn and are no longer available to any sector. According to the report, the total production of the sector was 8.40 MMT MT in FY24 with long products accounting for 60percent, flat products 30 percent, tubes and pipes seven percent, and other products three percent of total iron and steel products. Similarly, per capita use of steel was merely 36kg as compared to the world at 247kg - 6.5 times higher than that of Pakistan. In a major step towards environmental sustainability, the ECC approved Pakistan's Green Taxonomy, as proposed by the Ministry of Climate Change and Environmental Coordination. The chair appreciated the initiative, noting that it was long overdue and would play a vital role in facilitating access to financing for green projects in the country. To support skills development through outcomes-based financing, the ECC approved a government guarantee of Rs1 billion for the issuance of the Pakistan Skill Impact Bond (PSIB), as moved by the Ministry of Federal Education and Professional Training. The committee encouraged the ministry to gradually move towards adopting the Public-Private Partnership model and to explore undertaking similar initiatives using its own balance sheet, thereby, reducing reliance on sovereign guarantees. In the housing sector, the ECC approved a mark-up subsidy and risk-sharing scheme for affordable housing finance, with the objective of expanding access to low-cost housing. The committee also urged the ministry to develop a comprehensive, integrated database of the housing sector in coordination with relevant federal and provincial stakeholders, in order to ensure better targeting and effective implementation of the scheme. The ECC was briefed by the Ministry of Industries and Production on the status of availability and pricing trends in the vegetable ghee and oil market. While noting the ministry's assurance regarding adequate national stock levels, the committee expressed concern over the limited pass-through of declining international prices to domestic consumers. It advised vigilant monitoring to prevent price distortions and potential cartelisation, and emphasised the need for active coordination with the Competition Commission of Pakistan, National Price Monitoring Committee (NPMC), and provincial governments through the Ministry of Industries and Production. The ECC approved a proposal by the Ministry of Information Technology and Telecommunication for the revision of charges for Radio-Based Services (RBS). The committee directed the ministry to ensure periodic revision of RBS charges every three to five years, aligned with ongoing economic changes and technological advancements in the sector. The committee also endorsed a revised composition of the advisory committee overseeing the release of IMT spectrum, which is critical for improving next-generation mobile broadband services in Pakistan. In conclusion, the ECC approved the formal declaration of ship breaking and recycling as a recognised industry, as recommended by the Ministry of Maritime Affairs. However, the committee instructed the ministry to coordinate with the Power Division and share relevant data on power consumption patterns in the sector, to enable accurate assessment of the implications of applying industrial power tariffs in place of the existing commercial rates. The meeting was attended by Federal Minister for Power Sardar Awais Ahmed Khan Leghari, Minister for Petroleum Ali Pervaiz Malik, Minister for Commerce Jam Kamal Khan, along with senior officials from relevant ministries, divisions, departments, and authorities. Copyright Business Recorder, 2025


Express Tribune
11 hours ago
- Express Tribune
Court issues warrants for 70 PTI workers
A court has issued bailable arrest warrants for 70 PTI workers for failing to appear in the November 26 D-Chowk protest case. Despite being summoned, none of the accused appeared before the court. After waiting for two hours, the judge issued bailable arrest warrants for all 70 and directed them to submit bail bonds of Rs50,000 each on the next hearing date. Former president Arif Alvi, PTI founder's sister Aleema Khan, K-P Chief Minister Ali Amin Gandapur, Hammad Azhar, MNA Shahid Khattak, and Asad Qaiser are among the accused.


Express Tribune
13 hours ago
- Express Tribune
Heated debate in PA on Ajrak number plates
The opposition and treasury benches, during the Sindh Assembly session on Friday, traded verbal barbs over the issue of Ajrak-themed number plates of the vehicles. The opposition asserted, they were not against the cultural and heritage status of Ajrak, but forcing people to pay exorbitant penalties for not installing the said number plates was unjustified. Moreover, the drive to implement the Ajrak number plates was limited to Karachi only, while in the rest of the province, vehicles ply even without number plates. Several MPAs expressed serious concerns over public issues and criticised harassing citizens over new number plates. They also expressed strong reactions over the notices issued to residents of derelict buildings in Gulistan-e-Jauhar and Hyderabad. MQM member Shabbir Qureshi raised objections to traffic police unjustly issuing fines and harassing citizens over Ajrak number plates. In response, Provincial Minister Saeed Ghani clarified that Ajrak number plates have been in vogue for the last two to three years and include security features. He stated that motorcycles are often used in thefts and crimes, hence having registered and identifiable number plates is essential. These number plates are readable by the Safe City Cameras and have helped in apprehending persons illegally using official vehicles and government number plates. Excise Minister Mukesh Kumar Chawla said that since 2022, new number plates have been installed on one million motorcycles, and it is a reflection of the culture of Sindh. He said that the Punjab government adopted the Ajrak design on its flyovers, but it has been made controversial in Sindh, which is unfortunate. MQM member Najm Mirza said that Ajrak is not the issue, but people are being troubled under its guise, with traffic police issuing fines amounting to thousands of rupees. Najam Mirza recommended forming of a special parliamentary committee on this issue, which should also include the opposition. Saeed Ghani welcomed the proposal. He said, he accepts full responsibility for the recent building accident in Lyari in which 27 people lost their lives. He said that the affected building was constructed illegally in 1980s. Following the accident, the DG of the Sindh Building Control Authority was removed and cases were registered against 11 officers, many of whom have been arrested. He said that assistance was delayed due to the victims not having identity cards, but now Rs90,000 per family is being given as three-month rent. A total 45 families were living in the affected building in Lyari, most of whom were tenants. He added that 66 dangerous buildings in Karachi and 87 across Sindh have been vacated, and further action is being taken under the new committee. Home Minister Sindh Ziaul Hassan Lanjar said regarding police recruitment that 50,000 youth passed the written examination under the advertisement given during the caretaker government, out of which 11,000 were recruited on merit and all the details are available on the Sindh Assembly unanimously passed a resolution condemning the double murder incident in Balochistan, demanding the strictest punishment for the accused involved in the murder. The resolution was presented by Pakistan Peoples Party member Sadia Javed.