MEDIA HYPE 'Write Off Loans'

120 billion of PKR loans were written off by banks that were taken from 1985-1999 when Pak economy size was of $ 75 billion whereas 60 billion of PKR loans were written off that were taken after 1999 to 2007 when Pak economy size was of $ 160 billion. NAB had recovered two hundred and twenty five billion rupees against total expenditure of five billion rupees on cases.
Write Off activity is reckoned as routine procedure in banking when consumer genuinely defaults and 99-07 written off volume was not very drastic against the size of economy in 2007,recently some of western countries had injected billion of dollars in banking sector for recoveries.It has not yet been determined that how many loans of 99-07 were written off on political basis and document authenticity is also a big question mark so it is too early to hold someone accountable for fraud,records are available to probe unlike the records of 85-99 that were suspiciously destroyed.