The Allied Bank Officers/Executive and the Allied Bank Workers Federation of Pakistan have in a joint statement have categorically denied any link with a prospective bidder for strategic interest in the bank, Iqbal Z. Ahmed and his group of Lahore.
"In fact, we have no connection with any of 10 bidders and we are working only to safeguard and protect the interest of the institution and its employees," the joint communication to Business Recorder said.
Referring to the Business Recorder report in the issue of July 21, that the Iqbal group had the backing of the employees union and the officers association, they maintained that it was based on "some serious misconception."
The following is the text of the communication to Business Recorder from H. Usman Kandawala, General Secretary, ABL Officers/Executives Federation of Pakistan; and S. Shahid Hussain Naqvi, General Secretary, ABL Workers Federation of Pakistan:
This refers to the news item titled "ABL AUCTION FIXED FOR 23RD" published in the Daily Business Recorder of 21st instant.
In the comments given on Page (4) Column (5) it is reported that a Lahore based group led by one Iqbal Z. Ahmed emerged on the scene as one of the prospective bidder with the backing of ABL Employees Union and Officers Association.
We the representative of the ABL Workers Federation of Pakistan & ABL Officers/ Executive Federation of Pakistan have to clarify that the above reporting is based on some serious misconception as we have no link or connection with Iqbal Z. Ahmed and his group and as such the question of backing them does not arise.
In fact we have no connection with any of the bidders and we are working only to safeguard and protect the interest of the institution and its employees.
It may be added that we have always welcomed the process of ABL privatisation and will continue to support the efforts of the government till the objective is finally achieved.
Having faith in Government of Pakistan and the State Bank, we are confident that there would be transparency in the process of ABL privatisation and the central bank will also ensure that buyer who acquire the strategic shares of ABL will protect rights & privileges of the ABL employees as well as the shareholders employees of the bank.