Article: Pakistan: Four solvent extractors fail to pay PODB loans.

Byline: manish03

Four solvent extraction units have refused to pay loans worth Rs420 million to Pakistan Oilseed Development Board (PODB) due to losses in purchasing canola and sunflower crops from farmers, an official document available with The News revealed.

Of the cash credit of Rs250 million, the PODB, an attached department of the Ministry of Food and Agriculture, had sanctioned loans for nine solvent industries for payment to canola and sunflower growers on recommendations of the All Pakistan Solvent Extraction Plants Association in 1995-96.

The PODB has sent notices to four solvent extractors for not paying loans of the board and credit ...

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