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Rs 60 Bln Loans Were Written off in Musharraf’s Rule

ISLAMABAD, Pakistan News: More than Rs 60 billion loans obtained from government banks, financial institutions and agricultural bank were waived during the military rule of Gen. (R) Pervez Musharraf.
The beneficiaries were politicians, retired generals and businessmen including Manzoor Wattoo, Haroon Akhtar and Khosa family. According to the National Assembly record; 1,086 persons’ loans of Rs 23,514 million were written off from National Bank. Loans of Rs 608 million of 75 persons were written off from Punjab Bank. Loans of Rs 2.9 million of Manzoor Wattoo, Rs 110 million of Senator Haroon Akhtar’s, Rs 1.5 million of Jam Maddad Ali and Rs 80 of Haleem Adal Sheikh were waived from ZTBL. Mian Assad Shujauddin’s Rs 768 million loan of Pak Libya Holding Company was written off. While Khurshid Ahmed Khosa’s Rs .5 million, Rs 51.7 million of Fauji Cement Company and Aamira Textile Mills’ Rs 6 million were waived. Loans of Maj. Gen. (R) Abdul Qayyum and Maj. Gen. (R) Farhat Ali Khan Bukhari were also waived. Actress Samina Pirzada did not return loan of Rs 1.7 million of First Women Bank. According to report, from 1985 to 2003, Rs 120 billion loans were written off. Record of these loans was turned into ashes when fire broke out in the store room of the National Assembly.