Pakistan News And Discussion-12

[Naresh]

[center]<b><span style='font-size:14pt;line-height:100%'>Heavy borrowing and large write-offs</span></b> <!--emo&:flush--><img src='style_emoticons/<#EMO_DIR#>/Flush.gif' border='0' style='vertical-align:middle' alt='Flush.gif' /><!--endemo-->[/center]

<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>PAKISTAN borrowed from external sources $15 billion during last four years and the government banks and financial agencies wrote off loans worth Rs33 billion in three years.</b> This has happened not during the civilian rule by the politicians but under a military dominated regime.

If the bank loans had been productively and profitably utilised along with the large loans written off earlier, the need for such heavy external borrowing would have been far less instead of an average of almost four billion dollars a year for four years.<!--QuoteEnd--><!--QuoteEEnd-->

Cheers <!--emo&:beer--><img src='style_emoticons/<#EMO_DIR#>/cheers.gif' border='0' style='vertical-align:middle' alt='cheers.gif' /><!--endemo-->