The Chief Executives,
All Banks / DFIs.


Dear Sirs / Madam,

IMPLEMENTATION STATUS OF SBP GUIDELINES ON WRITE-OFF
OF IRRECOVERABLE LOANS AND ADVANCES

Please refer to BPD Circular No. 29 dated October 15, 2002 and subsequent BPD Circular Letter No. 1 dated January 17, 2003 regarding SBP guidelines on write-off of irrecoverable loans and advances.
2. The data being submitted by the Banks/ DFIs on the present format provides limited information about the cases received and settled under SBP Scheme. In order to monitor the progress of such cases in all aspects, the banks/DFIs are advised to continue submitting monthly progress report to Banking Policy Department as per revised performa enclosed at Annexure-I within 7 days from the end of reporting month. The first such status report on revised format for the month of April 2004 should reach SBP by May 7, 2004.
3. Please acknowledge receipt.