By: Nadeem Ahmed Jamal
The Banking Sector tends to down all over the world and eye catching illustration is to be seen in America, the strongest economy and banking sector of the world, where the 106 banks have been warped. The bank investment is to be imagine the back bone of any economy of the country and standing position of banks tantamount of brace value of country financial pose.

It is fortune of Pakistan, despite of destructive and defamed and energy affected economy the banking sector is been sufficient and strong so far. A little bit influences has been strained on but position cannot be said terrible. An easy example is to be taking that no one bank of Pakistan has been defaulter or collapsed in wave of worse world tornado of banking sector.

The Industrialist and financial institutions were warm hail of elected democratic government of Pakistan led by Pakistan Peoples Party and were so optimistic that economy shall boost by coup d`etat. But become desert economy condition of last whole year stern thwart them. Unfortunately the bigger pole of business community is remembering that trade days of former government, where they were growing much then today.

The political interference in the government, semi government and even the private sector is increasing gradually that causing the bitter and worsening environment in commercial institution. This act is like to bind the financial activities that would be much harmful for the democratic government as reveal in the past.

There are many untold stories are surrounding by the lips of important figures of business sector, those are facing allegedly extortion. The ordinary political activists are becoming busy body in the institution, even though they have not proved their justification.

Pakistan premier bank MCB is also the narrator of its kind of interception, where the man not to belong the either management or CBA union is creating anarchy and turmoil which spoiling the business activities on one hand and playing the future of hundred of thousand of workers and investors on other hand.

A prestigious newspaper has been reported the ground facts on said situation, which is likely matter of deep concern.

"The banking sector of the country is once again in trouble and uncertainty as one of the five big banks of the country, the MCB, has been practically made hostage by its union, which is not only damaging the image of the banking industry in Pakistan but also in the world.

According to details, protesting in favour of their demands, the MCB staff union has not only set up a protest camp in front of the main branch of the bank at I.I. Chundrigar road for the last many days, but the union men are also forcing the closure of bank branches after threatening the bank staff and customers, which is badly affecting the banking activities.

Banking experts say that the whole world is in the grip of an economic recession, which is also affecting the economy of Pakistan. In such a situation, instead of encouraging a leading group of Pakistan, which has brought $1 billion investment to the country, troubles and tension are being created for it. What would it convey to the world investors, they questioned.

The banking experts say that union patron Saeed Ghani belongs to the ruling party, and keeping in view his activities, political victimisation could not be ruled out. The business circles have termed political interference a setback for investment and said difficulties were being created for the outstanding bank due to interference of influential personalities.

President of the bank Atif Bajwa said that the management had made repeated applications to the IG, CCPO and home department against the illegal activities of the union, but till date no action had been taken against the union men.

The Sindh High Court has also directed the union to set up their camp 50 feet away from the main bank branch, however, the court decision was not implemented. Last year, Saeed Ghani and other people had attacked the main office of the bank and damaged the building. An FIR had been registered against the attackers, but action was not taken against them. "We have submitted repeated applications to the administration against them, but it remains unconcerned and no action has been taken against them," he said.

"We cannot understand why the police is not taking action against them." He said. "The union's illegal activities were damaging not only the bank, but also tarnishing the image of Pakistan in the world."

Meanwhile, in a statement the general secretary of CBA union said that they had nothing to do with the so-called protest, adding that he did not know on whose orders such an important bank of the country was being damaged.

Chief of MCB Staff Union Pakistan and General Secretary PPP Karachi Saeed Ghani says that the MCB management is itself committing a crime by interfering in the union affairs and sacking those union office-bearers who were not liked by the management.

The present office-bearers of the union had submitted 500 complaints to the NIRC against the bank. He alleged that the regional managers and general managers had been threatening the workers. He said they would continue their protest. He said they would continue their legal struggle for rights of the workers and legal role of the union.

The union leader vowed that they would not hesitate from going to jails, undergoing punishment and offering their blood for their rights.

He demanded that the bank management should stop interference in the internal affairs of the union, besides reinstating the sacked employees of the bank. He also demanded implementation of the 1995-96 accord between the bank management and the union. He said the bank management should stop slashing incentives to its employees.

To a question, he said he had read about the court's decision in a newspaper and after which he did not go to the camp outside the main branch nor inside any branch of the bank. CCPO Waseem Ahmad when contacted said it was a dispute between the union and the bank management and the union men were protesting. He said both the parties had registered FIRs against each other and the police were investigating the matter."

The business community expressing their anxiety on the matter and demanding from government to eradicate such political interference in this regard so that the trust may be rehabilitated of investors and public.