LAHORE – To help employees overcome the increasing cost of living, MCB has increased salaries for its permanent clerical staff and guards by 17 percent, in addition to an increment to various allowances. This was announced in a press release issued today. Besides the increase in salaries and allowances, various grants for marriage, funeral, children scholarship and maternity charges have also been enhanced. The threshold of entitlement for loans including advance salary, house loan and motorcycle loan has also been increased. After successful negotiations with MCB Staff Union of Pakistan (CBA), an agreement in this regard has been signed today between MCB Staff Union of Pakistan (CBA) and MCB Bank – which is enforceable from January 1, 2011 for two years. “The present inflationary pressures and the increasing cost of living have resulted in hardship for all segments of society including our clerical staff and guards. Considering the same, we reached an agreement to favourably compensate our clerical staff and guards in such a manner which is beneficial for both the Bank and the workers in the years to come. This agreement, we hope, will indeed help us grow, prosper and make progress,” said MCB Bank President MUA Usmani.
