LAHORE, Nov 19: The State Bank informed the Lahore High Court on Wednesday that the National Accountability Bureau had taken stringent measures for the recovery of stuck up loans without any discrimination.

The submissions were made by SBP counsel Rehan Nawaz in response to a petition, seeking production of record of loans waived of by the banks during 1992 to 2002.

The SBP, on its part, had directed the banks concerned to speed up recovery of loan in default. The ultimate responsibility for recovery of non-performing or outstanding loans lies with respective boards of directors of the bank or development financial institutions (DFIs).

The counsel requested the court to dismiss the plea as it was not maintainable because similar relief had been sought in petitions, already pending with the court.

Lawyer-petitioner M.D. Tahir submitted that the SBP had produced the record of loans written off from 1974 to 1991.

He had filed separate plea for the production of the record of the period from 1992 to 2002.

Advocate Tahir submitted that his petition for the recovery of Rs10 trillion loans, written off from 1974 to 1991, was already pending with the court.

He requested the court to summon the record of the written off loans and direct the National Accountability Bureau to proceed against looters of national exchequer.—APP