Bank Loans Write-Off: A comparison of PPP, PML-N and General Musharraf

According to statistics by the State Bank of Pakistan, there are glaring differences in terms of fiscal irregularities between elected governments and military governments in Pakistan.  Government of General Pervez Musharraf appears to be most corrupt followed by the right wing government of PML-N. Here are the SBP statistics which were also discussed by Munno Bhai in his op-ed in Daily Jang today (provided below):

The loan write-offs, in just seven years (2000-2006) of General (retd) Pervez Musharraf’s rule crossed the figure of Rs 125 billion, whereas only Rs 30 billion credits were waived during the reign of the elected regimes of Muhammad Khan Junejo, Benazir Bhutto and Nawaz Sharif between 1985 and 1999.

The sources further disclosed that during the two tenures of Nawaz Sharif (1990-93 and 1997-99) Rs 22.35 billion loans were written-off.

During Sharif’s first tenure, a total of Rs 2.39 billion was written-off, while during his second stint in power, around Rs 19.96 billion was waived off.

Interestingly, the written-off loans during the two tenures of Nawaz Sharif constituted approximately 74.5 per cent of the total of Rs 30.18 billion written-off between 1986 and 1999.

During the two tenures of late Benazir Bhutto, a total of Rs 7.23 billion loans was written-off, constituting 24.2 per cent of the total written-off loans. While an amount of Rs 0.49 billion was waived off during her first tenure, an amount to the tune of Rs 6.74 billion was written off during her second term.

Source: The News

Here is Munno Bhai’s article:

Source: Jang



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