SBP weighs in measures to conserve energy, fuel in banking sector

KARACHI, Jun 22 (APP): State Bank of Pakistan provides policy guideline to banking sector on energy conservation and the Central Bank has already a number of measures in this regard.

SBP circular issued on Wednesday, addressing Presidents and CEO of commercial banks and other financial institutions, mentioned that the Federal and Provincial governments were taking a number of actions to address the prevailing energy situation in the country and urged them to follow governments policy and the steps taken by State Bank.

Such measures may include: The banks may formulate a policy on “Work From Home (WFH)” whereby banks’ officials (other than branches) can observe, one or two days a week as WFH to achieve the intended objectives.

The banks may close all of its premises including branches at 7:00 p.m. or earlier and switch-off their electric supply except for any emergency use i.e. call centers, monitoring of Alternative Delivery Channels, back-ups and maintaining necessary electrical or IT equipment.

Moreover, the air-conditioners at ATMs vestibules may be used economically–

The electrically illuminated sign-boards of branches and other offices shall remain switched-off, at all times.