MCB Bank's enduring mismanagement may result in worsening situation

The recent incident in which MCB trade union workers turned violent and not only paralyzed the Bank's operation but also damaged some of MCB's branches clearly illustrates the enduring mismanagement by the Executives of the bank while the regulator i.e. the State Bank of Pakistan (SBP)'s silence towards this issue is also questionable.

The protests against MCB Bank are being led by the Patron Officer of MCB Peoples Labor Union, Sayed Ghani, who says that they are ready to spread these protests all over the country, if MCB management fails to meet their rightful demands.

It seems that MCB Bank Limited, which claims to be the largest bank of the country, is not even in a position to pay an adequate amount of salaries to its employees and workers like other commercial banks in the country.

The bank which claims to be the "best bank in Asia 2008" is making billions of rupees profit every year and is rapidly expanding its operation day by day but it is disheartening to note that all financial incentives and facilities offered by the Bank for its staff are limited to the Executive Staff only while a major portion of MCB lower staff/ workers receive petty amount of salaries with no incentives.

The ongoing inflation has made lives of MCB Bank's workers more miserable, leaving no other option for them but to come out on streets and protest against the highhandedness of MCB Management. But the MCB Management with its least bothered approach continues to pay no attention to this incident, which, at one point in time, resulted in creating law and order situation when aerial firing incidents were reported from an MCB Branch at Napier Road.

The government and the regulator must urge MCB Bank to go hand-in-hand with its workers and mutually agree on a rightful salary package so that these poor workers could counter inflation and the rising cost of everyday essential items.

Sayed Ghani, while talking to various TV Channels from time to time says, there was no tussle between the union and management but after the termination of Pervaiz Yasin, General Secretary of MCB Union on June 26, they had reservations over the intention of MCB Management, leaving no option but to go on protest.

It is pertinent to mention here that the Peoples Labor Bureau also staged a sit-in outside the "MCB Tower" to protest against the anti workers' decisions of the management which was followed by violence outside main headquarter and managers of two branches were reportedly beaten up by the protestors.

According to the union sources, the protest was in favor of workers' demand. During the last four years, 1200 messengers, 250 drivers including 22 union members had been dismissed from their jobs while a total of about 2,000 bank employees were forcefully retired by the Bank under the umbrella of golden handshake scheme.

There is growing evidence that 'Pakistanis are speaking through acts of violence' and this incident is a fine example but who could be blamed for such an act, the MCB Management officials, who receives extraordinary salaries, company maintained cars and dozens of other allowances.

This was the first time ever that a bank's operation were suspended due to protests by union workers and the violence that took place sent out the wrong message.

Later on, labor leaders, addressing a press conference, demanded from the bank management to hold negotiations with labor leaders without any further delay and called for reinstatement of Yasin and an end to harassment of 11 other elected CBA members.

The workers warned that if the bank management did not initiate dialogue with the employees for solution to problems then they would launch a countrywide protest soon.

Saeed Ghani says, the worker's voluntarily participated in the peaceful demonstration and they were not responsible for any damage. He also rejected the MCB Management's allegations that the protestors were not employees of the bank who damaged 30 branches and flowerpots at MCB Tower. How could MCB Bank's Management claim that the protests were not carried out by MCB employees as it would obviously be impossible to hold demonstration at 124 branches without participation of employees.

The management was intending to malign a peaceful campaign launched by the employees after throwing such allegations, as protest was not inside the branches.

The baseless allegations by the MCB management that the protests were not carried out by MCB employees does not hold any justification! According to the worker's demonstrations could not be carried at 124 branches without the participation of the employees. The Mansha group, which control's a major segment in various sectors of the economy, has continued to thrive without any concern for the thousands of workers whose livelihood and jobs are at stake.