President of the
In a statement issued, President KCCI urged Prime Minister
As per a statutory regulatory order issued by
President KCCI cautioned that this unfair step will create more problems not only for the accountholders but also for the banks as people whose accounts information is being shared with
Abdullah pointed out that giving access of confidential information to
He was of the view that it would obviously prove counterproductive as people will avoid using banking channels to carry out their transactions and prefer dealing in cash so that they could stay safe from the clutches of
Referring to the claims made by Finance Minister
Abdullah opined that this new SRO is likely to be condemned by banks as well as it will terribly affect relations between banks and its customers.
As the law and order situation is already in bad shape, flight of capital persists and foreign investment remains low, the government must desist from taking such steps that are likely to trigger severe backlash across the country. Any backlash against this particular SRO will certainly be supported by the Karachi Chamber, he added.
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