Governor State Bank meets with Finance Minister

Governor State Bank meets with Finance MinisterGovernor State Bank of Pakistan, Mr. Ashraf Wathra met with the Finance Minister, Senator Ishaq Dar to discuss issues related to SBP, at the Finance Ministry today.

The Governor informed the Finance Minister about the status of overdue credit lines to House Building Finance Corporation Limited (HBFCL) and ZTBL.

The Finance Minister said that after appointment of new management in the HBFCL new Board is being appointed and in line with the announcement made in the budget, the institution will be reformed and restructured. The objective is to make it a vibrant financial institution with robust balance sheet.

Similarly new management has been appointed to head ZTBL and the government has already notified enhancement of agriculture credit availability of Rs.500 billion to farmers through State Bank of Pakistan arrangement with complete participation by ZTBL.

He assured the Governor SBP that these issues will be taken up with the management of the concerned financial institutions and a resolution mechanism will be provided for payment of their outstanding dues towards SBP. He informed that both the financial institutions have new management and efforts will be made for devising a mechanism to resolve outstanding issues.

The meeting was also attended by Finance Secretary, Dr. Waqar Masood, Advisor to the Finance Ministry Rana Assad Amin and senior officials of the Finance Ministry