Zarai Taraqiati Bank Ltd (ZTBL) has issued a clarification following what it describes as “misreporting” by a section of the electronic media regarding the status of missing and burnt loan files, as discussed in the recent Public Accounts Committee (PAC) proceedings held on Tuesday.
According to ZTBL, the facts have been distorted in some media reports, which have failed to accurately represent the bank’s position on the matter. The bank explained that a total of 27,537 loan case files were burnt in 2007 during violent protests that erupted after the assassination of former prime minister Mohtarma Benazir Bhutto Shaheed.
ZTBL stated that, contrary to sensationalized reports, the number of unresolved cases has been significantly reduced over the years. “Through diligent efforts and recovery of outstanding loan amounts, the number of burnt files has been reconstructed and brought down to just 5,201,” a ZTBL spokesperson said. In addition, there are just 790 missing files, out of a total borrower base exceeding 600,000.
The bank further clarified that the total amount outstanding and recoverable against these 5,201 burnt and 790 missing files stands at Rs. 1,167 million. This translates to less than Rs. 195,000 per borrower, as all these loans were small advances to farmers.
ZTBL assured that it is actively pursuing the recovery and adjustment of the residual amounts in all such cases, and that the process is ongoing. “We remain committed to transparency and accountability, and are working to resolve all outstanding cases in due course,” the spokesperson added.
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