Raja Basharat – Punjab Minister for Law, Parliamentary Affairs, and Cooperatives – said that Punjab Provincial Cooperatives Bank (PPCB) will be restructured and made an active institution for the betterment of agriculture and farmers.
He was attending a meeting at the bank’s head office earlier today. The PPCB secretary and president briefed the minister on current status and future prospects of the bank.
The PPCB Board of Governors had not been functional since 2005, though the bank had 150 branches in urban and rural areas across the province.
The minister ordered for completing details of important issues including reconstitution of the board and recruitment on vacant posts within three months.
As per instructions from CM Sardar Usman Buzdar, the bank would be made fully operational and its closed branches would be reopened.
It is informed that amendments would be made to the existing policies and laws of the bank to make it useful for the consumers.
The process of transparent auction of properties belonging and attached to the Bank should be started immediately and a regular report would be sent.