State Bank governor discusses HBFCL, ZTBL outstanding dues with Dar

Minister says financial institutions to be reformed, restructured

ISLAMABAD – State Bank of Pakistan Governor Ashraf Wathra has called on Federal Minister for Finance and Economic Affairs Senator Ishaq Dar to discuss issues related to bank at the Finance Ministry on Sunday.

The governor informed the minister about the status of overdue credit lines to the House Building Finance Corporation Limited (HBFCL) and the Zarai Taraqiati Bank Limited (ZTBL). After appointment of the new management in the HBFCL, a new board is being appointed and in line with the announcement made in the budget, the institution will be reformed and restructured, Dar said.

The objective is to make it a vibrant financial institution with robust balance sheet. Similarly new management has been appointed to head ZTBL and the government has already notified enhancement of agriculture credit availability of Rs 500 billion to farmers through the State Bank arrangement with complete participation by ZTBL.

He assured the governor that these issues would be taken up with the management of the concerned financial institutions and a resolution mechanism would be provided for payment of their outstanding dues towards the bank. He said that both the financial institutions have new management and efforts would be made for devising a mechanism to resolve outstanding issues.

The meeting was also attended by Finance Secretary Dr Waqar Masood, Adviser to Finance Ministry Rana Assad Amin and senior officials of the ministry.

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