The federal cabinet showed its displeasure over the submission of incomplete information provided by the finance ministry regarding the written-off loans to the tune of Rs1.24 billion during a period of 2018-19 by four banks, reported 24NewsHD TV channel.

Sources informed to 24NewsHD TV channel on Thursday that the federal cabinet took notice of the Rs1.24 billion written off loans by the influential personalities and companies by the four banks during 2018-19.

The cabinet showed its annoyance over the incomplete information provided by the finance ministry. The cabinet asked the ministry to provide names of the influential personalities who were indulged in the financial wrongdoing. 

The Zarayi Taraqiati Bank waived Rs250.4 million loans of two influential people in violation of the rules. 

The cabinet said that the summary sent to it was not carrying the names of those who got benefitted and managed to write off their loans, sources added.  

The State Bank inspection report had pointed out that some influential people and companies had written off their loans. 

The federal cabinet will decide about the further action after deliberating on the summary to be dispatched by the finance ministry. 

Reporter M Awais Kiani