The National Bank of Pakistan has failed to grant any increase in the pensions of its employees.
HOUSTON: Despite the government granting increases in pensions for its retired employees and also of those working in corporations under its overall control, every year during the period 2009-2012, the National Bank of Pakistan has failed to grant any increase in the pensions of its employees.
However, at the same time, the bank is quite prompt in granting increases in salaries and perks to its serving employees.
The last three years have seen Pakistan’s economy experience high inflation and recession, caused in large part by sharp hikes in fuel prices. This has hit retired employees and their families really hard since they depend on what essentially amounts to a fixed income.
The bank has shown excellent results in recent years as can been seen in its annual financial reports but deems it fit not to share some of the profits with its retired employees.
The finance minister and other authorities concerned should take notice of this state of affairs at the bank and act to provide relief to its retired employees.
S Israr Ali
Published in The Express Tribune, October 21st, 2012.
