Banks paying millions as salary to top executives but not paying even peanuts to pensioners

The president of Allied bank Limited (ABL) is getting 3 million rupees per month ($30,000) as monthly salary while she is not ready to pay meager pension of 1321rupees per month to poor pensioner. It was revealed in the Supreme Court in a case filed by pensioners of privatised banks.

The Supreme Court bench is headed by Chief Justice Mian Saqib Nisar and comprising Justice Umar Atta Bandiyal and Justice Ejazul Hazan heard arguments from both the sides. The CJP called on rostrum Seema Kamil and asked her about her salary and whether she knew of the problems of the pensioners. Reluctantly, she replied that her salary is Rs3 million.

The court was astonished to find out that the banks are paying their pensioners even as low as Rs360. It stopped the ABL lawyer from citing Indian court cases saying the Supreme Court has done more for basic human rights in the country.

The CJP expressed displeasure and asked if the bank has any touch of humanity or not. Seema Kamil said the bank has fulfilled its legal obligations, to which the CJP replied that there are some ethical obligations too. “You are getting salaries of Rs 2-Rs 3 million but you are not prepared to pay pensioners Rs1, 321 a month,” he said.

The gap between the salaries and pensions of top executives and workers has increased to unprecedented level since the privatisation of the nationalised banks. The top management is receiving salaries in millions but pensioners have been denied the meager increase.

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