08 January 2005	Saturday	26 Ziqa'ad 1425

ISLAMABAD Jan 7: Prime Minister Shaukat Aziz on Friday appreciated the performance of Corporate and Industrial Restructuring Corporation (CIRC) during the year 2003-04.

He was chairing the CIRC board meeting at Prime Minister's House. The prime minister was informed that the corporation had disposed of 126 non-performing assets and created as many as 30,000 direct and indirect jobs during this period, in addition to incremental investment of over Rs2 billion.

The board approved various agenda items, including different settlement cases against outstanding loans. The board was informed that the corporation had successfully restructured and rescheduled 249 non-performing assets with outstanding loans of Rs45.5 billion through active participation with banks.

The CIRC has also repaid its original loans from the government of Rs151 million with mark-up. The board also decided to dispose of the remaining non-performing assets expeditiously.