Please
refer to our BPD Circular No. 29 dated October 15, 2002 regarding
SBP guidelines on write-off of irrecoverable loans and advances.
The SBP Scheme has already expired on June 30, 2003.
2.
From the status submitted by the banks/DFIs,
it has been noticed that settlement process is very slow and
still lot of cases are pending with them for decision under
SBP guidelines. In order to make financial institutions time bound to settle
the cases, all banks/DFIs are advised to decide all cases
received for settlement under SBP guidelines by August
31, 2003.
3.
Instances have come to the notice of SBP that
some banks/DFIs are not providing required information/ data
to “SBP Committee for resolution of cases” in a timely manner
and also delay the implementations of its decisions on one
pretext or another. The banks/DFIs are once again advised
to provide required data to the Committee within the time
frame given by the Committee and also implement its decisions
in letter & spirit.
4.
Furthermore, the Banks/ DFIs would continue
reporting data under BPD Circular Letter No. 1 of 2003 regarding
details of cases being settled under SBP guidelines on monthly
basis till all cases are settled/ decided or August 31, 2003,
whichever is earlier.
5.
Please acknowledge receipt.
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