KARACHI, Jan 17: The State Bank of Pakistan on Friday advised all the banks and Development Finance Institutions to submit status of cases being settled under its guidelines on write-off of irrecoverable loans and advances by January 25.

According to BPD circular letter No. 1, the banks and DFIs have been asked to submit the status of the cases on prescribed performa provided to them on monthly basis to Banking Policy Department.

“The first status report for the month ended on December 31, 2002 should be furnished by January 25, 2003 positively and thereafter within 7 days from the end of reporting month till the expiry of scheme”, the SBP circular stated.

Performa has three categories for which, columns for number of cases received with outstanding amounts, settled cases with amount outstanding involved, recoveries/down payments involved, recoveries/down payments made and cases not yet settled with amount outstanding during the month would have to be filled by the banks/DFIs.—APP