ISLAMABAD: Finance Division said to have proposed names of Tahir Yagoob Bhatti, Naveed Qazi and Mohammed Haroon Zamir Khan for the position of President/CEO, Zarai Taraqiati Bank Limited (ZTBL). Sources on condition of anonymity said that Finance Division has proposed these names to the federal cabinet for the approval of the one of them for the position of the president ZTBL.

On Thursday, while briefing the Senate Standing Committee on Finance was told that ZTBL profit before tax during the last three financial statements was at Rs 7.4 billion on December 2022, followed by Rs 2.9 billion on March 31, 2023, and by the end of June 2023, the bank profit before tax stood at Rs 8 billion approximately.

With regard to the hiring of executives, the committee was told that during the meeting of the Board Human Resource Committee (BHRC) held on December 2022, the management requested for grant of “executive allowance” to all existing EVPs/SEVPs on the pretext that their salaries are very low as compared to those who have been appointed from the market.

However, the BHRC recommended to offer the re-appointment on contract to only those executives who were promoted as EVP/SEVP in October 2022.

The matter was discussed /deliberated in the meetings of the Board of Directors and meetings of the BHRC. In the meeting of the Board held on May 2023, the proposal on re-appointment of promoted EVPs/SEVPs was approved and offers of re-appointment were issued on June 2023.

However, some Board members through their emails stated that there is some confusion in the relevant portion of the minutes of the Board meeting. Subsequently, a meeting held on June 2023, the BHRC decided to put the matter on hold which was also conveyed to the concerned executives.

Copyright Business Recorder, 2023