While chairing a meeting, Pervez Said, Managing Director, House Building Finance Company Limited (HBFCL) emphasised on the importance of recovery side of operations and desired that during last quarter of the year, special efforts should be made to reduce the NPLs of the company. Accordingly, Recovery Campaign-2014 has been launched from September 1 in Karachi Zone as a pilot project, and will be replicated and rolled down in other zones of the company from October 1.
The focus of campaign is on reduction of default in operating schemes, specially aiming at classified portfolio. The recovery campaign will involve personal visits of the HBFCL officials to defaulters, alongwith a media campaign, which will highlight and educate the defaulters regarding advantages of timely adjustment of dues and social and legal repercussions they could face, in case of continuation of default. Field officials will be provided full logistical support to make the campaign a success.-PR