Loan write-offs

The Supreme Court (SC) has issued notices to 222 people whose combined loans of more than Rs50 billion were written off in the past by state-owned financial institutions.

It is the time that the veil of incorporation is lifted and the names of promoters and directors who have taken refuge behind these artificial juridical entities are disclosed. Such people should be asked to file their personal wealth statements so that it becomes transparent that the written-off loans were used in companies and not for the personal benefits of the higher management.

Zafar Iqbal ( Lahore )