Image: The Express Tribune
Islamabad, September 4 (Online Int’l): A meeting of the National Assembly Standing Committee on Finance and Revenue was held under the chairmanship of Faiz Ullah, MNA.
President, National Bank of Pakistan briefed the Committee about the hiring status of the employees of the NBP from 2019 to 2020. While starting the briefing, he stated that the most critical of element of any organisation were people and that was particularly true of a service organization such as a bank. The quality of NBP’s Senior Resources across a variety of disciplines was identified as a serious gap as evident by a large number of unaddressed audit comments indicating lack of will for resolving them, and repeated breaches which resulted in reputational loss and lack of public trust.
He further said that the recruitment process was done by using the existing Board’s approved policies and process for external recruitment. He informed that all the senior positions were advertised internally (within the bank) and accordingly, internal candidates were assessed and eligible candidates short-listed and interviewed. However, none of them were found up to the mark. He added that the new hires are very experienced in their disciplines, experts in their role with a proven track record and have worked for top organisations with distinction.
The President also invited the attention of the Committee to the accountability process initiated across the board, wherein, two Senior Executive Vice Presidents (SEVPs) and five EVPs were terminated in order to make NBP a thriving organisation. He was of the stance that the present chain of complaints was a reaction to the disciplinary performance measures being undertaken.
The Committee members have expressed their concerns over the educational criteria highlighted for recruitment of Senior Officers in the bank. Some members of the Committee observed that it seems like a violation of recruitment policies. The Deputy Governor, State Bank of Pakistan informed the Committee that the recruitment of President, Board of Directors and Key Executives need approval of the SBP. Sometimes the bank can appoint a Key Executive itself and report to the SBP. If SBP thinks further clarification is required it can intervene accordingly.
Mr. Faiz Ullah, Chairman of the Committee expressed his concern over the mismanagement made in appraisement, rewards and appointments of Branch Managers in NBP at a lower level, especially in the Faisalabad Division. After detailed discussion, the Committee made the following directions/recommendations to the Ministry of Finance and National Bank of Pakistan:-
- What was the detailed criteria for the last three Presidents appointed in the National bank and the criteria followed for the current President?
- How many employees were recruited in New York (USA) and what are the details of the procedure adopted by the NBP along with their experience, qualifications and performance?
The Committee also recommended to the Ministry of Finance to provide the comprehensive report regarding whether the required process for hiring of NBP Senior Officers including Group Heads was followed or not.
A question was asked by an Honourable Member regarding allegations against the President, NBP, during his service in Nigeria. Mr. Arif Usmani, President, National Bank of Pakistan categorically denied such kinds of fabricated and baseless stories about his reputation and stated that his appointment was made on merit by adopting all necessary requirements. The Committee recommended that Group Head (HR), NBP may be invited in person in the next meeting of the Committee.
The Committee also discussed the Eradication of Riba Bill, 2019, moved by Mr. Abdul Akbar Chitrali, MNA and expressed its dissatisfaction on the presentation given by the State Bank of Pakistan and directed the Additional Secretary, Ministry of Finance and Deputy Governor, State Bank of Pakistan to arrange a meeting with the mover along with Dr. Ayesha Ghaus Pasha, Mr. Amjad Ali Khan, Mr. Abdul Wasay and Syed Javed Hasnain, MNAs for concrete and a speedy way forward in this regard. Mr. Faiz Ullah, Chairman of the Committee, also desired that an exclusive meeting should be called to discuss the said matter.
The Senior Representative from Provincial Finance Commission, Punjab briefed the Committee regarding the disbursement of NFC allocation in the province and its further division in districts. The Committee expressed its grave concern over the discriminatory distribution of funds in the districts and recommended that the provincial government should review its policies in this regard and District Development Plans may be introduced for smooth functioning in future.
The meeting was attended by MNAs and movers, Syed Sami-ul-Hassan Gillani, Mr. Jamil Ahmed Khan, Mr. Sadaqat Ali Khan Abbasi, Mr. Amjad Ali Khan, Mr. Faheem Khan, Chaudhary Khalid Javed, Mr. Muhammad Israr Tareen, Mr. Ali Perviz, Dr. Aisha Ghaus Pasha, Ms. Hina Rabbani Khar, Mr. Aamir Mehmood Kiani, Mr. Ahsan Iqbal Chaudhry, Syed Naveed Qamar, Maulana Abdul Akbar Chitrali, Syed Javed Hasnain Shah and Mr. Abdul Wasay MNA. The meeting was also attended by senior officers from the Ministry of Finance and Revenue, Law and Justice, State Bank of Pakistan, National Bank of Pakistan and Provincial and Federal Finance Commissions, (KPK and Punjab).
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