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Governor State Bank meets Finance Minister - Press Note issued by Press Information Department

July 7, 2014



Following is the text of press note issued by Press Information Department (PID)

Quote

Governor State Bank of Pakistan, Mr. Ashraf Wathra met with the Finance Minister, Senator Ishaq Dar to discuss issues related to SBP, at the Finance Ministry today. The Governor informed the Finance Minister about the status of overdue credit lines to House Building Finance Corporation Limited (HBFCL) and ZTBL.

The Finance Minister said that after appointment of new management in the HBFCL new Board is being appointed and in line with the announcement made in the budget, the institution will be reformed and restructured. 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 State Bank of Pakistan arrangement with complete participation by ZTBL.

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

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

For more information, contact:

Haji Ahmed Malik

Principal Information Officer

Press Information Department (PID)

Tel: +9251 925 2323 and +9251 925 2324

Fax: +9251 925 2325 and +9251 925 2326

Email: piopid@gmail.com

Unquote


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Source: Pakistan Press International


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