There is a problem at the Bank of Khyber (BOK). It is taking a beating because of a banking instrument called the treasury single account (TSA). To revamp, the bank is trying to look and operate more like a commercial bank. That, in a few lines, is the summary of this story. But what does any of this mean?
The International Monetary Fund (IMF) has long been asking Pakistan to implement a treasury single account (TSA) for better use of funds. While this step will help with fiscal consolidation, it has an impact on the banking sector in Pakistan – some banks more than others. The role of provincial banks comes into question following the complete transition to TSA which means these banks need to rethink their strategy beyond being a bank for the government. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
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NBP is only surviving on FBR money. If FBR is asked to use the most efficient FI, NBP would be the last bank. In this time and age, why are tax Rs restricted on one bank only?