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Wednesday, June 07, 2023  
18 Dhul-Qadah 1444  

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

NA committee asks for details of people who took the loans
<p>File photo.</p>

File photo.

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 to.

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 the loans had been provided on but he declined, saying that the information was confidential and banks are bound to keep it secret.

State Minsiter 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 breifing on the matter.

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Foreign Exchange

Comments are closed on this story.

mqamarullah Apr 07, 2023 04:40am
I think important thing is the recovery of loan. Because loan at that time may be a sincere effort to help sustain the cash deficit businesses. It is quite possible that the favourites if Government and Bureaucracy and "them" were helped on priority as per tradition if our society, still question is..are they paying back their loans.
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Abid Khan Apr 07, 2023 10:48am
Shitty excuses for collapse of economy. Actually army is responsible for the destruction of political and economic fabric of country.
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Mahdi Hosain Apr 07, 2023 11:00pm
Good to see that the committee has taken up this matter. I am shocked to see that deputy governor of the State Bank declined to provide the details of those 600 parasites and the committee let him go away.
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