A letter from Amjad Khan, on the above subjects, has appeared in your column on August 7. One would wonder how could UBL pensioners suffer at the hands of private management, when they had joined a pension scheme established for their benefit with the blessing and full support of the government of Pakistan.

Was it their a mistake to depend upon government shield/protection or it was sheer innocence on their part to believe in State writ. It is really agonising to see that a bank is committing breach of trust by violating the rules/provisions of a pensioners scheme set up at the behest of the Federal Government.

The UBL pensioners are, no doubt, veteran of revolutionary banking in Pakistan. They spent their prime life in promoting the commercial banking in this country.

Let there be no doubt in anybody's mind that the pensioners scheme for UBL executives officers contains two explicit rules / provision vid staff circular No 192 and 567 whereby the trustees of the pension fund should increase the pension amounts. Keeping in view the plight of old-age pensioners, widow and orphans one can only say: when would the government fulfil its obligation.

Copyright Business Recorder, 2006