New members of Commission for Written-off Loans

KARACHI: Chairman of Commission on Written-off Loans, Justice Syed Jamshed Ali (Retd.) has appointed Muhammad Akram Malik and Ibraz Saeed Raazi as members of the Commission with immediate effect.

According to SBP here Friday, the Commission has started functioning with effect from December 19, 2011 with its principal seat/office at 9, Main Gulberg, Opposite Nursery, Near Landmark Plaza, Lahore.

The Commission will examine written-off loan cases of Rs. 2.5 million and above for the period 1971-1992 and written off loans of Rs.25 million and above for the period from 1992 onwards of banks/ Development Finance Institutions (DFIs).

It may be recalled that the Supreme Court of Pakistan's order dated June 3, 2011 in a Suo Moto Case No. 26/2007 had appointed Justice  Syed Jamshed Ali (Retd.) as Chairman of the Commission on Written off Loans.