ISLAMABAD: MNA Rana Hayat Khan belonging to treasury benches Friday slammed his own government for written off loans and failure in the recovery of loans.
Speaking at a Calling Attention Notice (CAN) here in the low House of the Parliament, he raised the issue of written off loans and government’s inability to recover loans. He strongly slammed the government for written off loans and lack of recovery. Speaking at a CAN, he said a list was available containing names of those who have had written off loans. He said looted money was unlawful. He alleged bureaucracy used to save those who loot money from national exchequer and declare their companies as a defaulter.
He said if a farmer gets a loan of Rs100,000, interest is received from them, adding these people have engulfed billions of rupees but no one was questioning them. He asked the opposition for legislation in order to apprehend the corrupt people. “If the Parliament cannot take action against these persons then we have no right to sit here”, he added. Farmers were facing worst condition in the country while the government was not taking positive steps, he deplored.
State Minister for Finance, Rana Muhammad Afzal justified that government did not write off loans, adding Parliamentarians would wage Jihad if such corrupt practice was being done. He said banks have the right to write off loans. He said recovery was being done from the defaulters. 80 per cent banks and commercial institutions in Pakistan are private and if want to write off loans, can do so because boards of the banks have these powers.
He added those who were not retrieving loans intentionally, is called a full default crime. He said this crime is within the ambit of NAB and law. He said a law was passed in 2016 regarding loans, adding if someone was aspirant to amend it, would be supported. Later, National Assembly Speaker Ayaz Sadiq forwarded the matter of written off loans and non-recovery of loans to the Standing Committee on Finance.
