Four SBP depts to be moved to Lahore

KARACHI: The State Bank of Pakistan has decided to move four of its important departments from Karachi to Lahore. It has decided to move its Currency Management Department, Foreign Exchange Department, General Service Department and Accounts Department to Lahore. The employees of the aforementioned departments have been advised to inform the management of their willingness to move to Lahore before October 14.

It is important to note that more than 1,500 banks in Karachi get currency supply from the currency management department. The currency management department also monitors the flow of currency in Karachi. The currency notes and prize bonds also get printed in a printing press based in the Malir area of Karachi.

After this development, the employees of the State Bank have expressed the fear that the head office may be relocated to Lahore. On being contacted by the Jang Group, the spokesperson of the State Bank Abid Qamar has informed that there was no such plan to relocate the head office to Lahore. He further added that only a few portions of the said departments were being shifted to Lahore.