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HYDERABAD, June 22: The State Bank should direct all banks to observe uniformity and simple procedure in respect of loan documentation as each bank has formulated different rules in this regard.
This demand was made by Hyderabad Chamber of Commerce and Industry president Emad Siddiqui while speaking at a seminar on "Loan and Charge Documentation", organized by the State Bank here on Tuesday.
Mr Siddiqui said this anomaly had created problems for the business community. He said the State Bank had announced sudden changes in margin restrictions which had made it difficult for entrepreneurs to plan for their projects.
He said recently 50 per cent margin had been fixed for flour mills which was unjustified and should be reviewed. He said the excessive stamp duty rate in Sindh should be brought at par with the other provinces. The HCCI president suggested that like other departments a separate ombudsman should be appointed for banks.
NAZIM CRITICIZED: The Councillors' Action Committee of Qasimabad union council-I has criticized the alleged partisan attitude of the taluka nazim. The committee, at a meeting held here on Tuesday under the chairmanship of Ashfaq Ali Sangi, said development works had been carried out only in Shora Goth, Kiran Khan Shoro Goth and Mohammad Bux Shoro Goth while other three union councils, especially the union council-I, had been ignored.
The councillors said main roads of Sehrish Nagar and Pathan Goth had been destroyed and even drinking water was not available in the area. The drainage system of the union council-I had also collapsed, they further said.
They appealed to the Sindh chief minister to order an enquiry into utilization of funds in the Qasimabad taluka and added that a probe should also be made about the quality of development work in the taluka.
POWER SUPPLY: Power supply has been restored to different areas of Mirpurkhas and Tharparkar districts as 15 towers of 132kv transmission lines uprooted in a storm have been reinstalled.
In a statement issued here on Tuesday, a spokesman for Hesco said electricity supply to the affected areas, including Umerkot, Badin, Naokot, Chhor, Nagarparkar, Samaro and Mithi, had been restored.
In another statement, the spokesman said on assurance by the Sindh chief secretary to Hesco chief executive Syed Adeebul Hassan Rizvi about payment of outstanding bills within three days, power supply to water and drainage pumping stations of Hyderabad had been restored.
He said Hesco would not stop its campaign of disconnecting power supply to defaulters without clearance of arrears. He said the defaulters had been issued notices time and again to clear their arrears by June 20.
