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ADBP staff asked to expedite recovery efforts

ISLAMABAD: Agricultural Development Bank of Pakistan (ADBP) Chairman Mohammadmian Soomro has urged the regional managers and field functionaries to expedite their recovery efforts.

He has also advised to seek, wherever necessary, the assistance of the district managements under the Land Revenue Act to retrieve the money from the wilful defaulters.

The chairman particularly stressed the need to settle the stuck-up project loans by initiating dialogue with the concerned managements and inform the headquarters about the outcome.

He was presiding over a meeting of regional managers of Lahore, Sahiwal, Sheikhupura and Okara and the branch managers of these areas in Lahore, says an ADBP press release here on Thursday.

He said the loans should be disbursed no sound financial footings with proper documentation and collateral as well as keeping in view the ability of the borrowers to pay back the borrowed money.

Soomro said that officers responsible for bad loaning would be severely dealt with, adding, the career prospects of the field functionaries would be linked with their performance in the areas of disbursement of loans and the recovery efforts.

He said that the country was passing through a critical stage and everybody would have to work with honesty and unswerving dedication to bring a turn-around in the agricultural sector. APP