PESHAWAR: The Awami National Party has opposed the alleged move to privatise the Bank of Khyber, reacting to the reports that some shareholders associated with the ruling PTI were lobbying for the bank’s privatisation.

In a statement issued from the Bacha Khan Markaz here on Sunday, MPA Sardar Hussain Babak, ANP’s information secretary, expressed concern over the alleged plans of the provincial government to privatise the Bank of Khyber. He also alleged the government was doing so on pressure from some shareholders. He said the bank’s privatisation would cause irreparable loss to the province’s kitty.

Mr Babak said ANP rejected the privatisation of bank as it would affect the economy of the province. He said Bank of Khyber was doing well as it had made assets of Rs126 billion in a short period of time. He said the government could not privatise the bank as it had deposits worth Rs92 billion of which Rs80 billion belonged to the people of Khyber Pakhtunkhwa.

The ANP leader said a few shareholders were using their influence and forcing the Pakistan Tehreek-i-Insaf to privatise the bank.

Mr Babak maintained that if such a move was approved by the provincial government then it would be a setback for the economic development of the province. The move would also cause unemployment in the province.

Published in Dawn, July 6th, 2015

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