KARACHI: Rs840m loans of cooperative dept remain uncleared
KARACHI, Jan 14: The Sindh cooperative department has, so far, recovered Rs120 million as against the stuckup loans of Rs960m during the past few years.
“Field staff of the cooperative department recovered Rs33m last year out of which Rs8.6m were paid towards the loan of the Sindh government and Rs11.2m to the Federal Bank for Cooperatives,” said Hasan Ali Chaniho, Sindh Minister of Agriculture, Livestock and Fisheries.
Speaking at a news conference here on Monday, he said the provincial government had appointed administrators in the Sindh Cooperative Housing Authority to streamline the working of cooperative societies and to redress the grievances of the members.
In addition to that, a relief package had also been announced by the Sindh Cooperative Bank to provide remission in interest to the extent of 60 per cent.
The remission in interest allowed last year involved an amount of Rs9.9m and more than 3,000 farmers benefited from this package, the minister said.
He said 185 disciplinary cases had been decided against 335 cases and punishment been awarded to even senior officers under the government’s policy of good governance.—APP
