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PPCBL extends date of recovery package till June 30,2010.

LAHORE, September 01, 2009 (Balochistan Times): The Punjab Provincial Cooperative Bank Limited (PPCBL) has extended the date of recovery package upto June 30, 2010. This was stated by Khalid Pervez, Secretary Cooperatives/ Administrator,PPCBL in a press release here on Tuesday. The facility has been provided to the defaulters through this attractive recovery package that defaulters can deposit their loans within two years by monthly, quarterly and half yearly instalments. The defaulter societies of kharif 1977 to Rabi 1984-85 can get rid of mark-up by paying the full principal amount through Agreement with the Bank. The defaulter societies of kharif 1985 to Rabi 1994-95 can get rid of 50% mark-up by paying principal amount in instalments, however, 75% mark-up will be deleted on paying the full principal amount at once. The defaulter societies of kharif 1995 to Rabi 2000-2001 can get rid of 60% mark-up by paying principal amount in instalments, but 80% mark-up will be deleted on paying the full principal amount plus other outstanding charges against the society at once. The defaulter societies of kharif 2001 to Rabi 2002-03 can get rid of 50% mark-up by paying principal amount in instalments, and 70% mark-up will be deleted on paying the full principal amount at once. The defaulter societies of Kharif 2003 to Rabi 2004-05 can also get such type benefit by signing the agreement with the Bank. The defaulters Sugarcane societies, double loans as well as Medium Term Loan can get the benefit of his recovery package. Khalid Pervez, Secretary Cooperatives and Maqsood Qadir Shah, Registrar Cooperatives have stressed the defaulters to get maximum benefit of said recovery package. Both Authorities directed the Bank Management and field force of Cooperative Department for effective relationship with the defaulter for recovery through this attractive package.

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Publication:Balochistan Times (Baluchistan Province, Pakistan)
Date:Sep 1, 2009
Words:298
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