HBFCL Clarification

KARACHI (October 22 2008): Apropos a news item "HBFCL facing serious liquidity crunch", the House Building Finance Corporation Limited on Tuesday clarified that it disbursed Rs 3 billion during the three quarters of 2008. HBFCL has recovered over Rs 55 billion from its loan portfolio since start of its business and has also achieved its recovery targets fixed for current period of 2008.

The clarification further said that it has no liquidity crunch and it is very comfortable in meeting all its financial commitments while increasing its business activities.