| GEO Business | | Pak NPLs volume on rise: Tareen | Updated at: 1913 PST, Monday, November 16, 2009
 ISLAMABAD: Federal Finance Minister Shaukat Tareen has said that the amount of Non Productive Loans is on the rise in the country and stressed the need for devising Corporate Rehabilitation Law.
Speaking at a press conference in Islamabad, the Finance Minister said the Corporate Rehabilitation Law is needed for declaring the companies bankrupt to ensure assets' protection.
Shaukat Tareen said that government has established CIRS and Banking Court and an institution will have to go through the gradual structuring, if it fails to meet the given requirements.
‘Except cement and auto-industry the local industries are facing scale problem.’
The Minister said for the procurement of the assets a trust will be established.
Rehabilitation Laws will be posted on the Security and Exchange Commission website, Tareen added. |  |
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