Karachi-(Asad Ali Shah): The Sindh Building Control Authority’s (SBCA) 11 billion rupee trust fund, previously lying dormant without profit, has been secured and is now generating significant profits. After converting 4.7 billion rupees into a Term Deposit Receipt (TDR) at Sindh Bank with a 16% profit, the authority deposited an additional 3 billion rupees at 20.7% profit.
Employees have expressed gratitude for this initiative, which has secured funds and provided substantial profits. Previously, thousands of employees suffered due to the lack of profits.
However, concerns arise regarding the authority’s past decision to keep the funds in Sindh Bank for months without profit, resulting in significant losses. Employees demand an investigation into this matter, seeking accountability for the flawed policy.
The SBCA has assured that if another bank offers higher profits, the funds will be transferred to maximize profitability.
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