20000403

Co-op defaulters

asked to avail

relief package

KARACHI: Sindh Minister for Food and Cooperative Iftikhar Soomro has directed the Agriculture Cooperative societies loan defaulters to avail the relief package announced by the government else stern action would be taken against them.

He issued this directive while presiding over a meeting to review the recovery drive launched against the loan defaulters, said a news release issued here on Sunday.

The minister said that for the convenience of the defaulters and receiving representations regarding extension of last date for the repayment of loans, the government has extended the date till June 20. Earlier, it was fixed as December 31, 1999.

He said after June 20, the government would launch a ruthless campaign against the defaulters and no lenience will be taken against them.

He said to make the Sindh Cooperative Bank a viable institution, the government would soon appoint an experienced banker to head the bank.

Iftikhar Soomro also said that the Sindh Cooperative Bank would be re-organised, and sanctioning of loan would be made more easy while the recovery of loan would be carried out on modern lines.

Cooperative Secretary Munawar Opal on the occasion informed the minister that 932 arrest warrants have been issued against the defaulters of 187 cooperative societies of 15 districts.

He said out of Rs 363.660 million an amount of Rs 7.970 million has been recovered from the defaulters.

He also said that an amount of Rs 927 million is outstanding against 726 different cooperative societies.

Munawar Opal also said that a three-member committee comprising Cooperative Secretary Sindh Cooperative Societies Register and Sindh Professional Cooperative commissioners Bank General Manager has been formed which is in contact with divisional commissioners and deputy commissioner for swift recovery of loans from the defaulters.

The Minister directed the participants of the meeting to expedite the recovery drive and take stern action against them.

He warned that officials involved in laxity or providing wrong information would be taken to task.ÑAPP