Circulars/Notifications - Banking Policy Department  
 BPD Circular Letter No. 26
August 30, 2003  

The Presidents/CEOs,

All Banks / DFIs

Dear Sirs / Madam,

Extension in Settlement Date - SBP Guidelines on write-off of Irrecoverable Loans and Advances

Please refer to BPD Circular Letter No. 23 dated July 4, 2003 wherein all banks/DFIs were advised to settle/ decide all cases received under the above scheme by 31-08-2003. Reference may also be made to BPD Circular Letter No. 8 dated March 10, 2003 whereby “SBP Committee” was constituted and given six months time for resolutions of cases referred to it.

  2.        On representations from the banks/DFIs to allow further time period on different grounds for settlement of cases received by them, it has been decided to extend the settlement date for all banks/DFIs up to October 15, 2003 except ZTBL for which the settlement date has been extended up to October 31, 2003.


  3.        The banks/DFIs are, therefore, advised to ensure settlement of all the pending cases/ applications by the aforesaid date, positively as no further extension in the time period would be granted.


  4.        Accordingly, the period of “SBP Committee” has also been extended up to October 31, 2003.


  5.        Please acknowledge receipt.

Yours faithfully,
(Muhammad Ashraf Khan)
Senior Joint Director

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