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ISLAMABAD, June 2: The House Building Finance Corporation has constituted a committee to review cases of about 46,000 defaulters who owe the HBFC Rs380 million and whose houses might be auctioned by if they failed to pay their dues.
Sources told Dawn that the committee, headed by senior-most executive director Zahid Hussain, would examine defaulters on a case-to-case basis.
The committee will submit recommendations to the federal government for giving relief to some deserving defaulters.
According to reports, the HBFC has 4,500 defaulters in Karachi’s Surjani Town only and most of them are very poor unable to pay back the loan.
