ISLAMABAD - The National Assembly Standing Committee on Finance on Tuesday sought details of loans waived off by banks during last 25 years.

The committee, which met under the chairmanship of Qaiser Ahmed Shaikh, has discussed the Calling Attention Notice regarding inadequate laws for recovery of loans from the defaulters including waived off loans by the government.

The committee asked the Ministry of Finance and State Bank of Pakistan to provide the details of loans waived off in last 25 years.

Rana Muhammad Hayat Khan, who has submitted Calling Attention Notice, has expressed displeasure over the role of National Assembly by not controlling the waiving off loans. "The government should close down the National Assembly, which could not take any action against loan defaulters," he said.

He was of the view that parliament should legislate laws to prohibit the loan waiving off as people had waived off billion of rupees loans. "Chief Justice of the Supreme Court of Pakistan should take action against loan defaulters," he proposed.

He accused many influential people are involved in this business. The government should take action against those officers who are authorized to waive off the loans.

The committee has also discussed the inspection report presented by the State Bank of Pakistan governor regarding misappropriation in promotion process for National Bank of Pakistan's employees.