KARACHI - To help the employees overcome increasing cost of living, MCB Bank has enhanced the salaries for its permanent clerical staff and guards by 17pc while also increasing various allowances. This was announced in a press release issued here on Wednesday, says a press release. Besides increase in salaries and allowances, various grants including grants for marriage, funeral, children scholarship and maternity charges have also been enhanced. The threshold of entitlement for loans including advance salary, house loan and motorcycle loan has also been increased. After successful negotiations with MCB Staff Union of Pakistan (CBA), an agreement in this regard has been signed today between MCB Staff Union of Pakistan (CBA) and MCB Bank which is enforceable from January 1, 2011 for two years. The present inflationary pressures and the increasing cost of living have resulted in hardship for all segments of society including our clerical staff and guards. Considering the same we ultimately reached an agreement to favourably compensate our clerical staff and Guards in such a manner which is beneficial for both the Bank and the workers in the years to come. This agreement we hope will indeed help us all to grow, prosper and make progress, said MUA Usmani, President MCB Bank. I am pleased that after extended dialogues spreading over last six weeks, we have ironed out all the differences with MCB Staff Union (CBA) in a peaceful manner. I am thankful for the trust and confidence the union bestowed on me throughout the entire process and ultimately an agreement has been signed, said Ahmad Kareem, Group Head Human Resources.