PESHAWAR, Nov 25: Decision to fill the vacant post of managing director of Bank of Khyber would now be taken by the new NWFP government, apparently, blocking the move on the part of certain quarters of the outgoing provincial government to make the appointment before leaving the office.

“The decision has been left for the new provincial government,” said official sources without elaborating reasons for the delay.

However, some other knowledgeable sources said the move was, apparently, brought at a halt by a top bureaucrat of the province, even though interviews to five shortlisted candidates were conducted a month ago.

The post of BoK MD fell vacant last month after the outgoing provincial government, on the insistence of its finance minister, decided to replace the bank’s top man — Sajid Ali Abbasi.

The move to induct new MD was thus started on the advice of the finance minister even before relieving Mr Abbasi whose contract as BoK MD was terminated well ahead of getting lapsed somewhere in April or May, 2003.

Though the five shortlisted candidates were interviewed over a month ago, no further progress could be made on that count after the chief secretary, NWFP office, said the senior government functionaries did not process the file.

“Unless the chief secretary’s office processes the file, no further action could be made,” said the sources privy to the case.

Action against the MD BoK MD (now relieved from service) came as a surprise for several among the banking sector officials apparently after Mr Abbasi happens to be the only head of BoK — of all the three (MDs) the bank has had since its establishment over a decade ago — who could make the provincial public sector entity a profit earning organization.

“Though the BoK recorded profit for the first time last year, instead of crediting the MD for the same it was the chairman, board of directors, who took the credit for the improvement,” said an official source, adding “the chairman was instrumental in making the authorities concerned to relieve the MD.”

Apparently, charges made basis for the replacement of BoK MD, include the bank management’s failure to comply with the outgoing provincial cabinet’s decision pertaining to placement of BoK in the stock market to execute its privatization plan.

However, according to interviews conducted to provincial government and BoK sources, this theory seemingly does not hold strong ground after the provincial government had already been recommended, by the BoK management in June last, to delay the decision in view of ‘unfavourable’ law and order situation in the country.

Inside sources said the move to appoint the new MD came to a halt upon intervention by NWFP chief minister-designate Akram Khan Durani after being approached by ‘certain quarters’ following which the final decision to appoint the new MD was necessitated to be left for the new government.