PESHAWAR: Former employees of the State Bank of Pakistan (SBP) have criticised the bank`s management for failure to materialise the government`s announcement regarding 10 per cent increase in pension and warned to start agitation if their demand is not accepted.

Talking to mediapersons here on Thursday, All Retired Employees Association of SBP president Mohammad Riaz said that the federal government had announced 10 per cent increase in pension, but SBP allowed up to eight per cent increase in 2016 and only five per cent in 2017. He said that it was a violation of the government`s decision.

Mr Riaz said that the worst-af fected were the widows of the former employees as they could not meet their routine expenditures in the present situation. He said that the government should ensure increase in the pension to remove the unrest among the former employees.

He asked the SBP management to stop exploitation of the former employees. `The retired employees will start a protest drive against the management of the bank,` he warned.

The association`s leader said that the prices of essential commodities were increasing with each passing day, but the government was reluctant to give incentives to the workers. He warned that the retired employees were ready to announce march on Islamabad and observe a sit-in outside parliament to raise voice for their rights.