Cooperative Bank: Recovery of bad loans stressed

Minister for Agriculture and Cooperatives directed officers to make efforts for the recovery of non-performing loans.

KARACHI: Punjab Minister for Agriculture and Cooperatives Malik Ahmed Ali Aulakh has directed officers of the Cooperative Department and the Punjab Provincial Cooperative Bank Limited (PPCBL) to make efforts for the recovery of non-performing loans in the best interest of the bank and the nation.

Chairing a joint progress review meeting of the Cooperative Department and PPCBL at Lahore on Tuesday, he said that strict disciplinary action will be taken against those officials who fail to deliver desired results. Another review meeting will be held on June 1, he said quoted by a press release.

Participants of the meeting said that Rs82 million had been recovered by the end of December last year, and a 25 per cent recovery target has been set for the next six months.

Published in The Express Tribune, January 26^th, 2011.