The retired employees of National Bank of Pakistan have continuously been deprived of annual increase in pension for the last three years as announced by the federal government. The federal government, taking into consideration the present inflation and daily price hike, extend maximum relief to all its retired employees every year. The provincial government and other autonomous bodies follow the same instructions and comply in letter and sprit.

The retirees of all the above concerned departments avail this facility. National Bank of Pakistan is an autonomous body of the federal government. It was established under Government of Pakistan Ordinance 1949 and administered under rules and regulation of ministry of finance. All the directives of the ministry issued from time to time are meticulously followed. When an employee retires, he and his file are thrown in the waste paper basket. This attitude of the bank management is not appreciated. The retired employee becomes helpless, with no support from any sector. The President of the Bank has ignored retired employees, who are desperately waiting for release of instructions of the increase in their pension for the last three years. The increase in pension is not a very large amount for the bank; it is peanuts compared to the rewards granted to the President, Sr. Executives, employees, shareholders and stakeholders of the bank. The most effected class of the retired employees is those who retired between 1999 and 2003, they suffered badly due to the rigid retirement policies of the bank.

I was one of them and I retired as Vice President in the 2002 with a pension for Rs4, 500 per month. I know how I managed to survive on this amount. I was of the opinion that a regular annual increase in pension will bring relief, but regret to point that my pension has now been enhanced to Rs 11,000/- after five increases in ten years. I feel ashamed to disclose my pension to my friends and relatives who in deed do not believe me.

On the other hand one junior employee of Federal/Provincial Government usually receive more than ten thousand pension fixed at the time of his retirement. It may be added here that all other autonomous bodies like PIA, Railways, Steel Mill which have been money loosing institutes of the government comply with the instructions of the federal government and pay increase in pension to all their retired employees.

We the retired employees of the bank have repeatedly requested the president of the bank and the Chairman of the Board of Directors through letters, columns to be kind enough and take pity on the retired employees and their families and release instructions to raise the pension as declared by the Federal Government, but no action has been taken. It is also requested that in future clear instructions, with regard to increase in pension, be announced in the budget for implementation by the NBP. We the senior citizen/retirees of the bank shall be thankful to you and pray for prosperity and stability in the country.


Lahore, September 30.