ISLAMABAD: The Zarai Taraqqiati Bank Limited (ZTBL) on Thursday increased minimum wages of unskilled workers to Rs20, 000, which would benefit more than 2, 000 unskilled workers of Kissan Support Services Limited (KSSL), a wholly owned subsidiary of ZTBL.
The workers, earlier had a fixed monthly salary of Rs17, 500 and KSSL Board of Directors, in its 63rd meeting held under the chairmanship of President and CEO ZTBL Muhammad Shahbaz Jameel increased salaries of over 2, 000 KSSL employees to Rs20, 000 with effect from July 1, 2021, said a press release issued by bank.
The workers thanked President ZTBL for timely implementing the decision of federal government regarding increase in minimum wages.
President ZTBL Muhammad Shahbaz Jameel addressing the worker said that that prosperity of the institutions was directly linked with the social and economic well being of its human resource, adding that the bank has registered outstanding turnaround in its lending and recovery performance due to hard work and dedication of its employees.
In another development, KSSL also got registered its 3, 674 employees with Employees’ Old-Age Benefits Institution in compliance to EOBI Act with effect from July 1, 2019 and is paying contribution to EOBI on monthly basis.
Under the initiative, all ZTBL registered, insured employees with EOBI are now entitled to old-age benefits such as old age-grant, old-age pension, survivors’ pension as per EOBI Act 197.