Will we refuse to elect the ‘loan takers’ in 2007
March 29, 2019
A presidential approval
March 29, 2019



Will some one please write off my loans?



I have suffered from severe Post-Traumatic Stress Disorder, since my application for writing off a loan of Rs.25,000 was turned down by my bank.

The fault of course was completely mine.  Not borrowing the right amount, not choosing the right bank and not having the right connections.  I should have instead gone to a  National Bank, borrowed  Rs. 250 million and then applied for a write-off.    With  the right  tilt of   personal  and party preferences, aided by  the ‘transparent and non-discriminatory method’ specified by  the SBP guidelines, my loan would have been written off  in a jiffy.


One had great hopes in the President’s  core agenda of  recovering all loans even if it meant using minor arm twisting or nabbing  techniques.  Regrettably, the 11 public sector banks and DFIs wrote off  Rs.23.5 billion in the year 2000-2003  and then another 25.5 billion from 2003 to 2006. What an astonishing financial system.  The poorest of the poor cough out Rs.50 billion so that the state can write off the loans of the  shamelessly rich and obscenely  powerful people of this country.  Will the government please publish the  amount  and the names of  all those whose loans have been written off.  Whose money is it any way?


Naeem Sadiq