Please refer to Ikram Abu Bakar letter published in your June 17, 2004 issue regarding the above.
The public continues to get a raw deal from the financial institutions working under the SBP umbrella. There is an old saying that "justice delayed is justice denied." This is particularly valid in our country when the SBP has failed to prevent, redress, and punish foul play by financial institutions, in violation of SBP's own rules, instructions, circulars etc.
Even written and specific complaints, are attended to only in under 5% of the cases. It is a sorry state of affairs and has a direct bearing on business, development, employment, poverty reduction, investment climate and other desirable economic objectives.
It is time that SBP's monitoring staff, does some thing immediately and positively to address the over 2000 cases lying under cold storage for over 5 years in various committees and high-ups of SBP.