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Date Posted: 00:56:05 10/08/05 Sat
Author: shakeel ahmed junejo
Subject: Re: SCHEME FOR BAD LOANS change the staff alow only urdu speaking falow

>from mirpurkhas.i apply a year ago for a loan with my 30zarai pass book,i shuar about aziz shaikh m.c.o sactioned my loan and cant hand over the money by me so please do some thing for me.thank you
>no money to pay. As is the fate with all ordinary
>people that they are all “coward” my brother for the
>fear of having not paid did not bring the taxi on
>road. Family thought he was not plying due to his
>physical incapacity. However when real situation came
>to knowledge I approached the National Bank President
>through some recommendations that only late payment
>penalty be condoned and it be allowed to re-start
>paying installments afresh. My this request was well
>before the 1997 State Bank Incentive Scheme to
>defaulters. While I was issuing reminders over
>reminders the State Bank announced its 1997
>incentive/amnesty scheme under which a demand notice
>was received mid August from the Bank showing Rs.
>130,500 outstanding as Principal Sum plus different
>figures as mark up and other charges. At this time
>someone approached referring to my above application
>to the bank advising me to “bargain” when matter would
>be fully settled eg case wold be totally finished.
>Since as I belong to silent majority coward class I
>refused. Immediately after my refusal a revised
>Demand Notice from the bank came this time showing
>outstanding Principal at 140,000/-. I or my family has
>never worked in any bank but my general banking
>knowledge has officially in writing been appreciated
>at many higher levels. Mark up, interest, penalty,
>late fee, duty, surcharge, total outstanding can
>always get increased but this was my first ever
>knowledge ever “Principal” outstanding amount getting
>increased and that too just in 10/15 days. Right from
>National Bank President, Finance Division to Federal
>Ombudsman I struggled so hard to increase my knowledge
>as too how a “Principal” amount can get increased but
>I never ever got this mystery solved. It is a general
>belief that State Bank too played a great role in
>destruction of banking economy. Banks were sending it
>regularly statements of loans issued, loans remaining
>outstanding and picture was all clear to it but it
>remained silent. Only the other day a report on
>National Bank loans quoted one example NBP having
>given loan to a named company which company never
>existed in Pakistan. Years back if my memories are
>not failing me in this old age a banking court judge
>remarked it appeared the NBP had no interest in
>recovery of its loan (for obvious reason must be a
>case of bargaining) as NBP for the last 15 years had
>not attended the court.
>
>Being a “Shareef Adamee” I paid the whole loan
>calculated by the Bank but those who were not to pay
>still have not paid and will never ever pay. But
>still I wish if some one could help me to know “how
>the principal” can get increased just in 10
>days.

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