Businessmen advised to return loans on schedule
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