Busi­ness­men ad­vised to re­turn loans on sched­ule

The Pak Banker - - 2 National -

KARACHI: For­mer pres­i­dent and Chief Ex­ec­u­tive Of­fi­cer of Sonari Bank, Sa­far Ali Lakhani has ad­vised the busi­ness com­mu­nity to re­turn loans taken by them from banks on time in their own in­ter­est and that of the banks.

Speak­ing at a din­ner here hosted by Hon­orary Con­sul Gen­eral on Mozam­bique Khalid Tawab, he said that no bank would like to go for lit­i­ga­tion with his clients for re­cov­ery of loans and con­fis­cate their prop­erty.

He said ev­ery bank is in­ter­ested to have good re­la­tion with his clients and pro­vide max­i­mum fa­cil­i­ties, said a press re­lease on Wed­nes­day.

He said Sonari Bank started its op­er­a­tion with just Rs 300 mil­lion and now it has eq­uity of Rs 8.60 bil­lion, Rs 100 bil­lion de­posits and 2500 em­ploy­ees on its pay­roll.

For­mer pres­i­dent FPCCI and leader of busi­ness com­mu­nity, S.M. Mu­nir on this oc­ca­sion, called upon the govern­ment to take re­me­dial mea­sures for the re­vival and strength­en­ing of the na­tional econ­omy.

He also showed reser­va­tions on im­po­si­tion of re­formed gen­eral sales tax (RGST). He said that the busi­ness com­mu­nity wants that demo­cratic set-up should pre­vail.

Newly elected pres­i­dent of Fed­er­a­tion of Pak­istan Cham­bers of Com­merce and In­dus­try (FPCCI), Sen­a­tor Haji Ghu­lam Ali said that the govern­ment will have to change its pri­or­i­ties to res­cue trade and in­dus­try which is fac­ing var­i­ous prob­lems in­clud­ing in­creas­ing cost of pro­duc­tion. He also expressed con­cern over im­po­si­tion of RGST. He un­der­lined the need for aus­ter­ity mea­sures by the govern­ment. -App

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