By Dr Ali Akbar Dhakan
The former Cheif Minister Sindh announced establishment of Sindh Bank after a prolonged demand of the public of Sindh Province.
Then the annoncement of the Sindh Bank was advertised in daily newspapers of 2007 not only once but twice and thrice.A lot of expenditure was incurred on such advertisements and also some spade work was also started in the Chief Minister Sindh`s secretariat.A huge amount had also been spent on work plan of the bank but God knows what are the reasons of shelving this national matter with the Sindh Government`s Finance Department.The concerned file has been resting in the cupboards of the Finance Department.It is also strange to note that after taking oath of Chief Minister of Sindh, with big and loud words repeated the announcement about the establishment of Sindh Bank.He also made such announcement not only once but he has announced its establishment for repeated many times.It seemed that the Sindh Province will take its Bank in its name like the other Provinces have got their bank in their name and the people of Sindh will also utilize their funds on their betterment and well-being but it appears from the silence and delay in the establishment of Sindh bank, the Finance Department of Sindh Government has again taken the file in their custody and they want to sleep over it and decorated their same cabinets for shelving this national matter to avoid social and economic benefits to be accured by Sindh people from the establishment of this Bank.
It has already been deliniated by the author of this communication various times in various newspapers that the following benefits and structure of the Sindh Bank will fetch for down trodden people of Sindh who already face the problems of unemployment, financial as well as bussiness facilities and opportunities to be achieved from the financial sources of their own province.
At the initial stage with its Head office at Karachi, the branches of Bank will be set up at all District Head quarters and in Karachi, branches will be established at Saddar,Clifton, Defence, Tariq road, Gulistan-e-johar, Gulshan-e-iqbal, Liyari, Malir, Landhi etc.In all, number of branches will be 30.At the second Phase, after period of One year to the establishment of Sindh Bank, Branches will be opened at all talukas and thus the total number of new branches will be 100.In all the total number of personnel of all cadres will be about 2000.In this way, it is expected that the major problem of un-employment in Sindh province can be solved.
The bank would try to boost up small scale industries like cottage and handicrafts.For this purpose, in all districts, feasibility reports for setting up of small scale industries will be prepared and local people will be encouraged to setup their industrial estates for which the bank will provide all the lending facilities according to the normal banking procedures and rules.On account of the setting up of such small scale industries, the unemployed people can get jobs and employment in such newly setup industrial units through out the province and it is hoped that in this way more than one Lakh people will get employment and can be an income generating part of population in the province.
The mainstay of economy of Sindh is Agriculture as about 75% of the population of Sindh depends upon the livelihood from the cultivation of agricultural crops.For raising the productivity of each crop, proper, timely and adequate use of inputs like fertilizer, seeds, pesticides etc are essential. For the purchase of these inputs, financial help from the banks is sought.We have experienced from the existing system of the disbursment of agricultural credit from all the banks that it has been very difficult for the farmers of Sindh to obtain loans without any hindrances and reluctance of the bank managers.We hope that after the SIndh bank comes into existence, Sindh farmers community will surely get agricultural loans in time and in suitable manner.Thus by use of adequate inputs, per acre yield of every crop will increased which will consequently generate more income of the farming community and thus the standard of life of farmers will improve to the appreciable extent.
Beside, the Sindh Bank wil extend more funds for Fishing Farmers, poultry, livestock and orchards of all kinds of fruits.
The Sindh Bank will provide loans for small business in Sindh province and it is hoped that small businessmen will be able to earn their livelihood by opening retail shops and other business centres in small villages and towns of sindh province.
The goverment of pakistan is stressing and feeling high sense of reducing poverty being faced by the people of pakistan. By lending facilities, the sindh bank will be a good source to provide chances of income generation and thus people will enjoy certainly prosperous living to some extent reducing the poverty level in sindh province at least 20 to 25 percent.
The people of sindh will transact their money resources through their local bank and it is expected that all the financial resources of SindhProvince will increase more resources of about Rs.1 billion every year.
The labour force of Sindh province working in foreign countries particullarly in Gulf countries will send their foreign earnings through Sindh Bank and thus foreign exchange will be earned to the extent of about 1 billion Dollars every year.