Co-Operative Bank liquidation plan rejected

PESHAWAR: The Employees of Co-Operative Bank in Khyber Pakhtunkhwa have rejected the proposed liquidation plan of the bank and asked the provincial government to abstain from taking such ‘anti-employees’ measures.

Speaking at a news conference at the Peshawar Press Club on Wednesday, the Bank Officers Association General Secretary Mohammad Humayun said that a summary was moved to Chief Minister Pervez Khattak for liquidation of the bank, which was an injustice with the employees. He said the chief minister had been barred from intervention into the affairs of the bank under the clause 43-II of the 1925 Act, while an independent board had been empowered to carry out the administrative and financial matters under the relevant rules.

The office-bearer said an assistant, Khalid Mumtaz, had been appointed as general manager of the bank and had misused the authority. He said the by-laws of the bank were violated in administrative and expenditure affairs. Employees Action Committee Chairman Ishaq Ahmad Khalil, President of Officers Association of the bank, Sikandar Khan, Employees Union (CBA) Bank President Mohammad Imran and General Secretary Qayyum Khan and others were also present.

He said the employees were deprived of salaries and other incentives, since the floating of the new liquidation plan. Humayun said they had tried to meet the chief minister and other senior officials but to no avail. He demanded the provincial government to scrap the liquidation plan and reinstate services of all employees.