• Login
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
Time of Pakistan
No Result
View All Result
Home Opinion Editorials

Rewriting the past

ToP by ToP
March 16, 2011
in Editorials
0
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

As far as loan write offs go, Pakistan probably heads the list. The State Bank of Pakistan (SBP) has suggested that the Supreme Court (SC) constitute a commission, headed by a retired judge, to deliberate on and resolve the mega billion rupees loan write offs that have plagued the country since 1971. This particular matter has cost the country a shocking Rs 256 billion, where many of the beneficiaries of these write offs have enjoyed this form of looting and plunder just because they had the right political connections and influence. The current effort at accountability is a belated one but to be appreciated nonetheless on an issue that has been taken too lightly so far.The courts have ordered that the SBP makes sure the details of everything regarding this commission be made public in the print media so that the key factor of transparency be made a defining feature of this body. This is commendable because accountability was never before prioritised when it came to obliging many of these defaulters.

It is encouraging to see that the SC has introduced some transparency to the whole affair.It is being proposed that the commission be granted the authority to question people under oath, receive evidence on affidavits and issue further commissions for the examination of witnesses and documents. This is all well and good but, at the end of the day, this exercise should not remain a superficial one or a further cover up if it is to be meaningful. With the SC handling the case of loan write offs it is expected that all those who used their political affiliations will have to have their day in court. It is hoped that now shady deals behind closed doors will be made a thing of the past, at least where the business of loans is concerned. Pakistan needs to closely scrutinise everywhere it has gone wrong as far as financial setbacks are concerned. Given the current economic crisis we face, any attempt to allow these defaulters off the hook will perpetuate our financial debilitation. While there may be some cases of genuine need to write off loans, those who have used unwarranted means to escape accountability must be brought to book and made to return the money – Dailytimes

Previous Post

oreign interventions in Bahrain and Libya

Next Post

A brief history of our revolution — II

ToP

ToP

Related Posts

Pakistan not surprised by Biden’s intent to review US-Taliban deal
Editorials

Pakistan not surprised by Biden’s intent to review US-Taliban deal

by Jameel Ahmad
January 25, 2021
Pulwama Attack: 10 Questions Indians should ask their Govt, Media
Editorials

Pulwama Attack: 10 Questions Indians should ask their Govt, Media

by Jameel Ahmad
January 20, 2021
Conflict Brewing in the E-Commerce Arena of Educational Products for Children
Editorials

Conflict Brewing in the E-Commerce Arena of Educational Products for Children

by Jameel Ahmad
November 27, 2020
TTP regroups with JuA, HuA in Afghanistan
Editorials

TTP regroups with JuA, HuA in Afghanistan

by Jameel Ahmad
August 19, 2020
Virulence of Bats-Caused Diseases
Editorials

Virulence of Bats-Caused Diseases

by ToP
June 25, 2020
TRUMP’S VISIT INDIA
Editorials

TRUMP’S VISIT INDIA

by ToP
March 3, 2020
Tik Tok Addiction
Editorials

Tik Tok Addiction

by ToP
March 3, 2020
Next Post
A brief history of our revolution — II

A brief history of our revolution — II

Popular Stories

  • Quaid’s Daughter Dina Wadia: Important Historical Figure

    Quaid’s Daughter Dina Wadia: Important Historical Figure

    0 shares
    Share 0 Tweet 0
  • 12-year-old British Pakistani boy makes £290,000 during summer holidays

    6800 shares
    Share 0 Tweet 0
Time of Pakistan

About Times Of Pakistan

kralbetbetturkeyikimislibahis1xbetm.infohipas.infohttps://www.wiibet.com/restbetcdn.com

Other Categories

  • Beautiful Pakistan
  • Fashion News
  • Funny News
  • Viral Videos
  • Weird News

Recent Posts

  • 11th J.A. Zaman Memorial Open – Powered by Gem Golfers
  • Imran Khan and Bushra Bibi Sentenced to Jail in £190 Million Case
  • World’s Largest Submarine Cable Arrives in Pakistan: Could This End Internet Woes?

Times Of Pakistan © 2024. Design & Developed by E2E Solution Providers.

No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In