ZTBL Refutes Media Reports on Burnt Loan Files, Clarifies Position Before PAC

ISLAMABAD: Zarai Taraqiati Bank Ltd (ZTBL) has issued a formal clarification regarding its position presented during today’s meeting of the Public Accounts Committee (PAC), stating that certain sections of the electronic media have misreported facts concerning missing and burnt loan files and their associated outstanding amounts.

In a statement issued Tuesday, the bank explained that a total of 27,537 loan files were destroyed in 2007 when protesters set fire to ZTBL property following the assassination of former Prime Minister Mohtarma Benazir Bhutto Shaheed.

Since then, ZTBL said it has been actively working to reconstruct and recover the records and dues associated with those cases. As a result of sustained efforts over the years, the number of unresolved burnt files has been reduced to 5,201, while 790 files remain missing — a small number when compared to over 600,000 total borrowers in the bank’s portfolio.

The total outstanding and recoverable amount tied to these remaining files is Rs. 1.167 billion, which equates to less than Rs. 195,000 per borrower. ZTBL emphasized that these are all small agricultural loans issued to farmers.

Read more: ZTBL Achieves Remarkable Financial Success in 2023

The bank further assured that recovery and adjustment efforts are ongoing and will continue in accordance with due process.

ZTBL urged media outlets to verify sensitive financial matters before reporting and reaffirmed its commitment to transparency and accountability in all operations.