Non-performing loans: KPCCI concerned over rising bad debt

Negative image of province combined with stern attitude of banks towards lending has led to downward growth in the KP.

PESHAWAR:

Khyber-Pakhtunkhwa Chamber of Commerce and Industry (KPCCI) has held the report of the State Bank indicating that non-performing loans (NPL) have swelled by 24% within a year as disappointing.

In a statement here, KPCCI President Affan Aziz said non-availability of major utilities and high markup rate were major factors behind the rise in the NPLs.

Negative image of the province combined with the stern attitude of the banks towards lending has led to downward growth in the KP, he said, adding that Prime Minister’s financial package somewhat halted this tendency. He suggested that there is dire need to give further extension to the PM’s financial package, by atleast one year.

Published in The Express Tribune, November 29^th, 2011.