This was decided in a meeting attended by the director general of Pakistan Post, additional directors general, PC junior consultant and others, sources said.
During the meeting, representatives of the postal service suggested that the government should scrap corporatisation plans for Pakistan Post, which was also on the agenda of the upcoming PC Board meeting. Instead, they asked the PC to include on the agenda a plan to add value to the service by establishing a post bank.
They made the suggestion in the wake of widespread protests against privatisation by employees of the company over the past few days.
In response, PC representatives agreed on making changes to the agenda of the PC Board meeting. According to sources, the PC consultant said that the commission will consult the Securities and Exchange Commission of Pakistan (SECP) for utilising the licence of SME Bank for establishing the post bank.
Participants of the meeting agreed that Pakistan Post, being a major stakeholder, will play a key role in the setting up of the post bank.
Published in The Express Tribune, January 7th, 2011.
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