Auditor General of Pakistan (AGP) has said, The National Development Finance Corporation (NDFC) has written off Rs 200 million payable by seven industrial firms in 1999.
AGP had proposed its annual report on the Finance Division for the year 2000-01 to the Public Accounts Committee (PAC) for review.
The committee will evaluate the report in its four-days meeting.
The NDFC settled some of the cases after receiving reciprocally agreed sums with the borrowing parties after litigations.
Although in other cases the corporation had relinquished the total mark up and mark-up on the mark-up under the State Bank of Pakistan's inducement strategy.
NDFC has been merged into the National Bank of Pakistan (NBP).
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