The State Bank of Pakistan (SBP) has authorisedthe banks tochargeinter-bank fund transfers (IBFTs). These charges are exorbitant and against the stated government policy of digitising the economy.
Public will again be forced to resort to cash transactions. Banks already charge annual fee for using their digital/internet banking facility and now these charges will totally discourage the public. The SBP, instead of making transactions convenient for the public, seems to have joined hands with the greedy commercial banks to fleece the public. It should immediately cancel the charges and allow free transactionslike before as banks charge annual fee in advance for the year.
