ISLAMABAD: Non-recovery of loans of more than 44 billion rupees has put future of Agricultural Development Bank at stake. Bank officials are yet to get magisterial level powers for recovery.

According to audit document, 148,919 clients who took loans from Agricultural Development Bank more than Rs 44.45 have not returned loans.

Bank has been seriously threatened, according to document, 32,554 loanees under Special Asset Management owed more than Rs 11.21 bilion and more than Rs 11.58 billion on 11,982 borrowers.

According to document, 3,860 defaulters belonging to Lahore, Okara, Jhang, Multan, Quetta and Sukkur zones, despite having arrears of more than Rs 2.36 billion, no action has been taken against them.

Bank management is of opinion that all resources are used by Bank to recover loans. Hence we try to recover under courts and prevailing law.

Published in The Daily National Courier, September, 25 2023

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