PESHAWAR: A top banker of the provincial government, who receives a staggering amount of money in salary and other privileges, has formally demanded further increase in his perks and privileges.

With the highest salary package in the province, Managing Director of the Bank of Khyber Shamsul Qayyum gets Rs16.8 million, including Rs10.2 million basic pay/managerial remuneration, annually.

Besides, he is also entitled to other bonuses as decided by the bank’s board of directors.

The provincial government holds 70.2 per cent management stakes in the BoK, which was established through an act.

A summary put up to Chief Minister Pervez Khattak for approval says the incumbent BoK managing director has requested for enhancing his perks and privileges.

“The MD has requested that his agreement may be amended and he will be entitled for two vehicles (1600cc and 1300cc) with drivers for official and residential duty and maintenance at the bank’s expenses with 500 liters fuel per month on the pattern of privileges granted to his predecessor,” read the official communication.

Finance minister Muzaffar Said confirmed his ministry too had received the summary.

“The government has yet to approve the case,” he told Dawn.

If the chief minister approves additional package, it will cost the province’s kitty around Rs660,000.

However, the official letter said the bank would bear financial implications and would not burden the provincial exchequer.

Sources in the finance department said certainly, it would burden the provincial exchequer because the government had more than 70 per cent shares in the bank.

They said two vehicles had already been provided to the BoK head, so there was no justification for provision of more to him.

“Ultimately, it will burden the provincial exchequer,” said one source.

When contacted, Shamsul Qayyum said he had asked the provincial government for the regularisation of two vehicles, which he currently possessed.

“The MD is not supposed to move in a handcart,” he replied when asked for justification for having two vehicles.

He claimed acceptance of his request would not put extra burden on the exchequer.

The BoK head is paid Rs900,000 conveyance allowance a year.

Published in Dawn, June 27th, 2015

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