Home »Top Stories » ZTBL lending skewed in favour of Punjab

  • News Desk
  • Apr 22nd, 2017
  • Comments Off on ZTBL lending skewed in favour of Punjab
The Senate was informed on Friday that Zarai Taraqiati Bank Limited (ZTBL) has granted - during the last four years - loans amounting to Rs 66,376.303 million to 269,889 borrowers, of which Rs 53,635.102 million were disbursed in Punjab province, the stronghold of ruling party PML-N. During the question hour, Finance Minister Ishaq Dar in a written reply said that these loans were granted during 2013-2016.

He said that Rs 7,353.807 million were disbursed in Sindh, Rs 3,624.144 million in Khyber Pakhtunkhwa, Rs 453.673 million in Balochistan, Rs 790.551 million in Gilgit-Baltistan and Rs 519.025 million in AJK. Pakistan Tehreek-e-Insaf Senator Mohsin Aziz had raised a question about ZTBL loans.

Replying to another question by Senator Chaudhry Tanvir Khan of ruling Pakistan Muslim League-Nawaz (PML-N), Minister for Planning, Development And Reform Ahsan Iqbal told the House that the Special Security Division, comprising nine army composite battalions (9229 personnel) and six civil armed forces wings (4502 personnel), has been formed for security of the Chinese working in Pakistan on various projects.

He maintained that no foreigner is included in the security force while the security of the Chinese lies with the Ministry of Interior, being the focal agency responsible for their security. Replying to a question by PkMAP Senator Usman Kakar, Minister Dar said that the total amount of agricultural loans of Rs 21.5 billion (Rs 8.7 billion principal amount and Rs 12.8 billion markup) has been written off to facilitate 313,392 borrowers during the last ten years.

Minister for Industries and Production Ghulam Murtaza Khan Jatoi told the house that investors in Export Processing Zones are also availing the incentive of duty drawback.

The minister pointed out that a ten-year income tax holiday and a one-time exemption on import duties on machinery plant and equipment were also being offered to them.

He said the incentives and facilities also include provision of developed land on competitive rates for thirty years, freedom from national import regulations, a one-window operation with a simplified procedure, all facilities like electricity, gas and water and easy access to seaports and airports. To another question, Dar said that as per FBR data, there are 55 companies involved in the production of milk products, which are registered with FBR. He added total income tax and sales tax paid by these companies during the last five years was of Rs 17.3 billion and Rs 8.4 billion respectively.

He said the amounts of customs duty and regulatory duty paid by the members of dairy associations during the last five years are Rs 27.43 billion and Rs 2.7 billion, respectively. However, the minister citing rules declined to share names of owners of these companies.



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