SBP ad­vises banks to fa­cil­i­tate se­nior cit­i­zens

Pakistan Observer - - ECONOMY WATCH -

AMANULLAH KHAN KARACHI— State Bank of Pak­istan has ad­vised all banks in­clud­ing mi­cro­fi­nance banks to fa­cil­i­tate open­ing of bank accounts and pro­vide bank­ing fa­cil­i­ties in­clud­ing ATM card, credit card, etc. to the se­nior cit­i­zens/ pen­sion­ers with­out any dis­crim­i­na­tion. It has been em­pha­sized that se­nior cit­i­zens are an im­por­tant and pri­or­ity seg­ment of our so­ci­ety who de­serve spe­cial and dig­ni­fied con­duct. Banks in­clud­ing mi­cro­fi­nance banks have been ad­vised to en­sure high level con­duct by their em­ploy­ees while deal­ing with the se­nior cit­i­zens/ pen­sion­ers and any vi­o­la­tion of SBP in­struc­tions would be dealt with in ac­cor­dance with the rel­e­vant pro­vi­sions of Bank­ing Com­pa­nies Or­di­nance, 1962. Sindh’s de­vel­op­ment out­lay proposed by the fed­eral govern­ment de­fies the spirit of fis­cal fed­er­al­ism. Com­ment­ing on the bud­get doc­u­ment ap­proved by the Na­tional Eco­nomic Coun­cil yes­ter­day, Rehman said that the pro­vin­cial al­lo­ca­tions made in the doc­u­ment ex­hibit an alarm­ing bias to­wards the elec­toral strongholds of the rul­ing party. “This is not a “fed­eral” bud­get. It’s a po­lit­i­cally parochial bud­get. It ig­nores the needs of Pak­istan’s largest tax- pay­ing and rev­enue gen­er­at­ing prov­ince,” Rehman said.

“It is a mat­ter of pub­lic record that the Sindh Rev­enue Board sur­passed Rs. 49 bil­lion in tax collection this year, with

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