News Column

SBP issues notices to industrialist for repayment of loans

April 30, 2014

Under the directives of government, State Bank of Pakistan (SBP) has issued notices to the industrialists in the country who have failed to repay loans of billion of rupees they have obtained from different financial institutions.

The industrialists from Faisalabad, the third largest district of the country who have received notices are Mushtaq Cheema, former federal minister and owner of Mushtaq Textile Mills, Azhar Majid Sheikh, owner of Arzoo Textile mills, Mian Muhammad Latif, owner of Chenab group of industries, owner of M Textile mills and several mills owners.

These industrialists have started making contacts with the federal ministers on the matter of notices. They have decided to use the platform of Chamber of commerce and industries to get soften the policy for repayment of loans.

A committee has been constituted in this regard in the hurriedly convened meeting of chamber of commerce and industries Faisalabad which will evolve a comprehensive documents within a week on this matter.

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Source: Daily Messenger (Pakistan)

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