LAHORE, Oct 1: The State Bank of Pakistan (SBP) Committee for the Resolution of Disputes cropping up between borrowers and banks during the settlement of bad loans under the central bank’s loan write-off scheme will not entertain any request after October 18.

In an announcement here on Wednesday, the committee said: “The central bank has fixed October 18 as last date for the acceptance of complaints of borrowers against the banks during settlement of their loans and advances under the SBP circular BPD-29. Hence the borrowers have been asked to submit their complaints, if any, for the consideration of, and a decision, by the committee before the last date.”

The committee was constituted by the central bank on March 10. Its purpose was to mediate between the borrowers and the banks in case of a disagreement between them on finalization of details of the settlement of default loans and advances.

The last date for applying under the BPD-29 for the write-off of loans expired on June 30.