Thu. May 19th, 2022

NBP refuses to accept GB Government cheques on SBP directives, pensioners and salaried class in trouble

PT Report

Gilgit, January 10: The State Bank of Pakistan has advised scheduled banks to stop payments on the cheques of Gilgit – Baltistan government. It is the first time in the history of the region that central bank has issued such a advice.

According to media reports the SBP has take this step over concerns regarding flawed systems of financial management and policy-making in the region.

Due to the orders of SBP branches of National Bank are not making payments on the cheques issued from AGPR office.

Ban on the official payments is badly effecting the pensioners and they are facing difficulties.

GB Finance Minister, Muhammad Ali Akhtar, has said that negotiations are underway with the State Bank and the cheques will be cashed based on the guarantee of GB government.
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