Re­turn of loans

The Pak Banker - - 4editorial -

Mostly busi­ness­men run the busi­ness with loans. Very a few peo­ple be­gin busi­ness with their own money. Large scale busi­nesses like mills, in­dus­tries and big projects need huge money and banks en­cour­age the busi­ness­men in this re­gard. Some­times govern­ment also in­structs the banks for is­su­ing the small and big loans to the peo­ple will­ing to start busi­ness. So banks start cam­paign to ed­u­cate and in­form the farm­ers, traders, busi­ness­men, in­dus­tri­al­ists about the pur­poses, pro­cesses and ben­e­fits of the loans and re­sul­tantly the busi­ness­men take the loans on con­di­tions set by the banks and start their busi­ness. Now the peo­ple, who are reap­ing the fruits from their busi­ness started by the loans, should re­turn the loans hon­estly to re­spec­tive banks to make them equipped with liq­uid­ity for other needy busi­ness­men. It is the moral duty of the ben­e­fi­cia­ries to take the ini­tia­tives and come for­ward and now they should launch a cam­paign for busi­ness­men for re­turn­ing of the loans. In this con­nec­tion the for­mer pres­i­dent and CEO of Sonari Bank, Sa­far Ali Lakhani has ad­vised the busi­ness com­mu­nity to re­turn loans taken from banks on time in their own in­ter­est and that of the banks. He was speak­ing at a din­ner 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. Ev­ery bank is in­ter­ested to have good re­la­tion with his clients and pro­vide max­i­mum fa­cil­i­ties, he added. He was talk­ing about his own bank's loans but the loans taken from other banks of coun­try should be re­turned. Govern­ment should take re­me­dial mea­sures for the re­vival and strength­en­ing of the na­tional econ­omy. There are nu­mer­ous reser­va­tions on im­po­si­tion of re­formed gen­eral sales tax (RGST) in the pub­lic. Govern­ment will have to change its pri­or­i­ties to res­cue trade and in­dus­try which is fac­ing var­i­ous prob­lems in­clud­ing in­creas­ing cost of pro­duc­tion. Busi­ness­men's con­cern over im­po­si­tion of RGST should be re­solve am­i­ca­bly. To help the ail­ing econ­omy there is need for aus­ter­ity mea­sures by the Govern­ment. Ex­perts are sug­gest­ing the im­pos­ing in­come tax on agri­cul­tural in­come which will help gen­er­ate Rs 500b ad­di­tional rev­enues.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.