October 8, 2003	Wednesday	Sha’aban 11, 1424

LAHORE, Oct 7: The Lahore Chamber of Commerce and Industry has urged the State Bank to help implement decisions of the Dispute Resolution Committee formed under the BPD-29.

In a statement issued here on Tuesday, LCCI president Anjum Nisar said the SBP governor had set up the committee to resolve outstanding loan cases between the banks and the borrowers in order to clear the non-performing loans backlog and to avoid unnecessary litigation. But, he said, several LCCI members had approached him with complaints that some banks were reluctant in implementing the decisions of the committee.

“Such an attitude on the part of the banks is again forcing the borrowers to move courts for the resolution of their NPL cases. The courts are upholding the decisions of the committee but it is a time consuming process that would hamper quick revival of the industry,” he said.

He said thousands of cases between the banks and the borrowers were already pending before the courts. “Further litigation would not only add to the woes of courts, but also spoil the spirit of revolutionary guidelines of the State Bank of Pakistan,” he said.

He said SBP Governor Dr Ishrat Hussain should take strict note of non-cooperative attitude of the banks so that the process of quick revival of the industry could continue for reducing poverty and generating jobs.