ISLAMABAD: The government has written off loans of about Rs1.1 billion in Malakand, Swat, Buner and Chitral districts through budgetary support under fiscal relief for Khyber-Pahtunkhwa, FATA and PATA.

According to information released by the ministry of finance, these loans were obtained by 13,464 borrowers from 15 commercial banks and financial institutions which includes the Bank of Khyber, the Bank of Punjab, National Bank of Pakistan, Khushali Bank and House Building Finance Corporation.

The highest number of loans written off were in Chitral district where over 10,000 borrowers had obtained loan worth Rs506 million. In Swat district, 1,900 borrowers had takenloan of Rs293.20 million, while in Malakand district, 1,179 borrowers obtained loans of Rs127.39 million and 295 borrowers in Buner district obtained Rs19.29 million.

In addition, 21 borrowers hailing from other areas took Rs151.57 million for the purposes of business in the districts of Malakand, Swat, Buner and Chitral.

As many as 7,597 borrowers in Chitral district obtained loans of Rs148.84 million from the First Microfinance Bank. This was followed by loans worth Rs306.11 million obtained by 4,299 borrowers from the National Bank of Pakistan.  Only 287 beneficiaries got their loans from the House Building Finance Corporation written-off.

The banks were: Habib Bank, MCB Bank, Meezan Bank, Summit Bank, Soneri Bank, First Microfinance Bank, Bank Alfalah, UBL, NIB Bank and Faysal Bank.