ISLAMABAD - Apparently it looks a matter of by chance but is still interesting as the main accounts of Pakistan Tehreek-e-Insaf (PTI) stand frozen due to the government’s moratorium on KASB Bank for a period of six months at a time when the party needs funds for its November 30 rally in Islamabad.
Well-placed sources in PTI informed Thursday that the main account of the party was in Blue Area Islamabad Branch of KASB Bank that has been frozen due to a moratorium of the government on the bank since November 14.
The sources also informed that the party had another account at a bank in Aabpara Market of Islamabad that was now being used but the party was facing financial problems due to the non-functioning of its main account.
The government had taken control of KASB Bank last Friday because the bank did not meet the minimum capital requirement of the State Bank of Pakistan (SBP).
The federal government has placed KASB Bank under moratorium for a period of six months with effect from close of business as of November 14, 2014, SBP said in a statement issued on November 14.
The SBP later clarified that the operations of KASB Bank would remain functional and its offices and branches would remain open as according to their normal timings.
Under the SBP instructions, those account holders could withdraw money from the bank, who have deposits up to Rs300,000 while others will be able to withdraw up to the Rs300,000 limit for one time.