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Saturday July 20, 2024

SBP told to release list of top 1,000 loan defaulters

Pakistan Information Commission rejected State Bank’s request for immunity, saying it had nothing to do with case

By Asif Mehmood Butt
July 09, 2024
The State Bank of Pakistan building in Karachi. — SBP website/File
The State Bank of Pakistan building in Karachi. — SBP website/File

LAHORE: The Pakistan Information Commission, under the federal government’s Right to Access to Information Act 2017, has ordered the State Bank of Pakistan governor to release a list of 1,000 big loan defaulters within 10 days.

The Pakistan Information Commission, in its ruling on a petition filed by Azmat Khan, a resident of Karachi, said it was an admitted fact that 1,000 people had taken loans from banks but failed to repay them, as a result which the country and the banks involved suffered substantial financial losses. “Information and disclosures related to such persons cannot be withheld,” it ruled.

The Pakistan Information Commission rejected the State Bank’s request for immunity in this case, saying it had nothing to do with the case. The commission has directed the State Bank governor to disclose the required information and submit it to the commission within 10 days.