On behalf of the officers of the State Bank of Pakistan (SBP), I would like to draw the attention of the Governor SBP towards the inordinate delay in the revision of their salaries, which, according to the bank's rules, should have been raised, with those of the clerical, non-clerical, contractual employees and also with the pension of the SBP's pensioners, in July, 2011.
Nevertheless, because of some unknown reasons, even after almost eight months, the salary package for the officers has not been announced so far. On the other side, National Bank of Pakistan, smaller banks have come out with attractive salary packages for the officers. While, federal and provincial governments have not been far behind in giving handsome increases to their employees and also generously doled to those of the sinking entities, like, PIA, Railways, Pakistan Steel Mills and many more.
It is inexplicable that the central bank, which earns hundred of billions in profit every year, and which time to time sounds its apprehensions about the inflationary pressures on the common Pakistanis, has turned a blind eye to its core force's need and predicament. Unfortunately, hence, to lead a reasonable life, commensurate with the prestigious name of the State Bank of Pakistan, has become difficult.
Resultantly, the indifference of the SBP towards its needy officers, on whose shoulders lie the delicate task such as the monetary policy, treasury operations, banks supervision and regulation, is creating frustration among them so much so that they have started to leave the bank for better options. In view of the obtaining hopelessness among the officers in the central bank, I would passionately appeal to the Governor to order for the announcement of the long delayed salary package for the officers so that they can free themselves of the excruciating wait, and redirect their energy towards their work.
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