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| January 19, 2003 | Sunday | Ziqa'ad 15, 1423 |
NWFP to start interest-free banking
LAHORE, Jan 18: The NWFP government will write off the interest on loans issued to the people.
This was stated by NWFP senior minister for finance, planning and development and environment Sirajul Haq on Saturday. He was speaking at a news conference at the Lahore Press Club.
Mr Siraj said the decision would facilitate around 25,000 families in the NWFP. He said that all borrowers would be required to pay back the principal amount only.
He also said that most borrowers were neither returning loans nor interest despite their arrests.
He said the NWFP government was also considering to launch an interest-free bank in the province. He said the interest system had failed in the country.
Answering a question, he said that the NWFP government would also hold negotiations with the federal government to introduce interest-free system after developing a role model within the province.
He also said that the government was also in the process to cut down its non-development expenditures.
Saying that despite the passage of over five decades, Urdu could not become the official language, the minister said the NWFP government had finally decided to start its official proceedings in Urdu.
Answering a question, he said the construction of Kalabagh Dam was still a controversial issue and still there was no consensus.
He said the NWFP could achieve strong financial position if the Wapda would give the province its due share. He said that he would also talk to Water and Power Minister Aftab Sherpao on the issue.
Mr Siraj said the NWFP wanted to accommodate all local government’s elected representatives and would soon consult the Punjab on the issue.
He also said that the MMA’s government in NWFP wanted to have a cordial relations with all provinces and the federation to solve people’s problems in the country.
Answering a question, he said FBI’s actions in the country were not being viewed as a good sign by the people.
He said that the NWFP had also asked the Afghan government to locate and send back its people.
Mr Siraj said that the NWFP had imposed emergency in the health and education sectors to utilize allocated funds judiciously.
He said the government would give free education to girls up to primary level. The government would also give books free of cost to all girls students.
He said the government had also launched a campaign against the obscenity and now no obscene posters could be seen in the NWFP.
During the press conference, the minister also received a call of NWFP chief minister Akram Durrani on his cell phone. During the conversation, he told the CM that while he was coming to Lahore by bus, the staff said that they would not play music as it was banned.
“However, soon after the bus came out of the NWFP jurisdiction, the bus staff switched on the cassette player,” the minister said.
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