August 09, 2006	Wednesday	Rajab 13, 1427

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ISLAMABAD, Aug 8: Minister of State for Finance Omar Ayub Khan on Tuesday informed the Senate that the government was considering a proposal to write off house building and motorcycle advances given to employees of the federal government belonging to the earthquake-hit areas.

The minister stated this in a written reply to a question of Muttahida Majlis-i-Amal Senator Dr Mohammad Ismail Buledi.

In response to a question of MMA Senator Mohammad Talha Mahmood, the minister said the number of defaulters of the House Building Finance Corporation on Dec 31, 2004, was 111,881. He said the HBFC had undertaken an aggressive drive to recover the stuck-up loans. He said the corporation had established recovery and special assets management divisions.

He said the HBFC management had declared 2006 and 2007 as the ‘years of recoveries’.

Responding to another part of the question, the minister said there was no proposal under consideration to write off HBFC loans outstanding against widows.

Responding to a question of Senator Hamidullah Jan Afridi, the minister said the government had not announced any amnesty scheme on cars which had entered the country illegally.

However, he said, the Central Board of Revenue had given powers to the customs adjudication officers to release the smuggled vehicles on payment of 30 per cent redemption fine in addition to the duty and taxes. He said such vehicles were earlier liable only to confiscation. Mr Khan said the initiative was aimed at collecting revenue on vehicles which earlier were being confiscated.

He said 5,227 vehicles — 2,341 smuggled and 2,886 involving violation of prescribed import procedures — had been cleared through the measure since March 2.