Maligning institutions

Apropos of a news story published in your newspaper on Monday, I would like to say that certain public representatives have been orchestrating a smear campaign against the Bank of Khyber (BoK), a profitable financial institution of Khyber Pakhtunkhwa province. While delivering fiery speeches on the floor of the Khyber Pakhtunkhwa Assembly, some members levelled wild allegations against the BoK. The lawmakers’ claims are far from true. The entire strength of BoK, including contractual staff, is less than 1,400.
However, one MPA alleged 1,450 employees had been appointed to the bank in violation of the relevant law over the last four years. The MPA should have fact-checked his information before speaking on what he called irregularities in BoK. BoK has earned Rs. 5 billion over the past three years, an achievement that amply reflects the lender’s robust health. Additionally, the value of its shares has significantly surged under the new management.
The malicious accusations were levelled by elements whose demands for illegal favours, such as anomalous appointments and loans have been declined. The public representatives should avoid defaming the bank whose strong financial health is evident from annual audit reports. This provincial asset needs protection from all stakeholders.
Hayatabad, Peshawar

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