LAHORE, March 21: In the last one year, the Corporate and Industrial Restructuring Corporation (CIRC) has auctioned some 36 units with an outstanding amount of Rs6 billion.

Besides, it returned 139 accounts having an outstanding amount of Rs33 billion to the respective financial institutions for “assisted resolution” or negotiated settlement.

This was stated by CIRC chief executive officer Javed Hameed during a briefing at the All Pakistan Textile Mills Association office here on Thursday. He stated the financial institutions had reported substantial progress toward regularization of bad loans of Rs32 billion.

He said the corporation would assume another 431 non-performing loans of Rs56 billion in the second phase of its operations.