PESHAWAR - The employees of Cooperative Bank Khyber-Pakhtunkhwa have rejected the proposed liquidation plan of the bank and urged the provincial government to abstain from taking such anti-employee measures.

Speaking at a news conference at Peshawar Press Club on Wednesday, Cooperative Bank Officers’ Association General Secretary Muhammad Humayun said that a summary was moved to Chief Minister Pervez Khattak for re-liquidation of the bank, which was completely injustice with the employees.

He said that the Chief Minister was barred from intervention into affairs of the bank under the clause 43-II of the 1925 Act, while an independent board was empowered to carry out the bank’s administrative and financial matters under the relevant rules. But, the bank board has intentionally become redundant, he added. He said the by-laws of the bank have clearly been violated in administrative and expenditure affairs.

Humayun Khan said that liquidation plan is proposed whenever the employees expose the corruption of high-officials of the bank. He said the future of more than 233 employees of the bank would be at stake if provincial government executed the liquidation plan.

He informed that Rs800 million funds had been allocated for the Co-operative Bank, but these were not utilised due to the inability of the Cooperative Department of Khyber-Pakhtunkhwa. Consequently, the funds had returned to provincial finance department with additional payment of Rs110 million as interest.

The association general secretary said the bank structure had severely been damaged during the last one decade, adding that the Co-operative department is attempting to occupy the building of the bank to hide its failure and on the pretext of austerity measures.

He also said the employees were deprived of salaries and other incentives, since the floating of the new liquidation plan. He also said they had tried to meet with Chief Minister and other senior officials, but were not allowed.

He demanded of the provincial government to scrap the liquidation plan and reinstate services of all serving employees. Besides, he added, pension arrears should be paid to retired employees of the bank.

Chairman of Employees’ Action Committee Ishaq Ahmad Khalil, president of Bank Officers’ Association Sikandar Khan, Bank Employees Union CBA President Muhammad Imran and general secretary Qayyum Khan were present during the press conference.