Inflation is a global phenomenon that has impacted many countries worldwide resulting in high fuel prices. Pakistan is also witnessing unprecedented economic turmoil, with the inflation rate rising at an exponential rate.
Keeping in view the current economic situation and the vision of the Pakistan Government to support the working class population through various possible initiatives during these challenging times, the Bank of Punjab has taken positive measures for its employees.
These include a number of initiatives for the welfare of its staff at clerical and non-clerical levels, as well as lower grade employees.
These measures are driven by the Bank’s spirit of empathy to support its employees and the country at large, with BoP playing its due part as a responsible corporate citizen:
Salary Increment for Officer Grades
Salary increment up to 10% of basic salary for Officer Grades is provided in line with the Bank’s commitment to align salaries of its employees with market standards and to provide relief in these testing times. This relief is provided to employees where the salary of an employee is lower than the desired percentile at this level.
Slurry Increment for Clerical/Non-Clerical/Outsourced Staff
Salary Increment for Clerical/Non-Clerical/Outsourced resources to bring them at par with the highest minimum wage applicable in any province, PKR: 25,000. This initiative intends to bring some further relief to the staff who are at the base of the pyramid and require support.
Capping of Fuel Price
In response to the escalating fuel prices as a result of global pressures, the management has decided to cap the price of fuel while absorbing recent price increases for middle and lower management. This measure is focused to create some space at the top levels and bring a balance in measures adopted for better management of expenditure.
