950811

MCB employees

get 33 percent

pay rise

LAHORE: The employees of the Muslim Commercial Bank (MCB) have got 33 percent pay rise besides increase in other allowances through an agreement between the management and the Staff Union of Pujab (CBA).

According to a press release, issued here on Friday, the President of the Union while addressing the general body of the staff union said that under the agreement, the house rent has been increased from 80 percent of basic to 95 percent whereas substential increase in medical allowance, motorcycle advance, convenyance allowance, education advance, special duty allowance, and cash allowance have been made. He added that rupees one lakh has been added to the sealing of loan from house under this agreements.

He said that a total increase in the salaries from scale two to scale seven will from Rs. 2200 to Rs. 4700 per month.

The general body which was attended by a large number of members, thanked its President Syed Safdar Ali Naqvi for signing this historic agreement with the management.-APP