ISLAMABAD, Dec 21: The National Industrial Relations Commission (NIRC) on Thursday stopped the National Bank of Pakistan (NBP) from retrenching its 4,000 employees.

The commission stayed the retrenchment a day ahead of an important meeting of the NBP Board of Directors scheduled to be held in Karachi on Friday, in which it was set to take a decision on the issue.

NIRC Chairman Tanvir Ahmed Khan issued the stay order on a petition filed by the NBP Employees Union (CBA), Central Circle, Punjab-Islamabad.

The union had alleged that the board was removing more than 4,000 employees of grade-4 to the rank of senior executive vice-president in violation of the relevant standing orders of the West Pakistan Industrial and Commercial (Standing Orders) Ordinance, 1968.

Despite many attempts by the union, the management was not ready to hold talks on the issue, the petition alleged.

The chairman directed the NBP management to appear before the commission on Jan 24, 2007.

“This decision would affect 4,000 families. I wonder why the bank is firing people on the one hand and making political appointments on the other?” the union’s secretary-general Akbar Ali Khan said while talking to Dawn.

He said the bank had earned a profit of Rs19 billion last year, which was expected to double by the end of the current financial year. It was also appointing staff as it lacked skilled manpower and was in need of more human resources, he said.

Mr Khan said the NBP and fired about 12,000 employees in 1997 and 2002 despite the fact that it needed skilled staff.

The employees’ union was ready to hold talks with the management on the issue any time, he said.