Pakistan: Banks close 64 branches in affected areas

By Shahid Iqbal

KARACHI: The disastrous flood has badly disrupted the banking services in the calamity-hit areas as over a dozen banks have closed down a total of 64 branches across the country.

The State Bank of Pakistan on Friday informed Dawn that 15 banks have shut their branches in the flood-affected areas aggravating the plight of the flood victims.

The central bank said the highest 31 bank branches were closed down in the Punjab because of serious damages caused by the flood. In many affected areas where bank branches were closed, temporary counters had been set up to facilitate the clients and accountholders.

However in some areas opening of temporary counters was not possible and the closed branches had been shifted to safe areas.

Sindh is the worst-hit by the floods, but the number of bank branches closed was 20 in the affected areas. There are fears that more bank branches could be closed down as the pressure of flood is still mounting in Sindh which may cause devastation in other areas as well.In Khyber Pakhtunkhwa, the first victim of the flash flood, nine banks' branches had been closed down. While only four branches were closed in Balochistan.

The victims are facing serious problems to withdraw their own money from the banks while they have lost every asset in the flood.

Many overseas Pakistanis want to extend monetary help to their brethren but the closure of bank branches has been hampering the flow of donations in the affected areas.

The flood has not only hit the villages but it affected vast areas of different towns especially in Punjab and Sindh.

The closure of bank branches has disrupted transfer of funds creating serious problems for the relief agencies, groups, different organisations, NGOs and individuals who are trying to reach out the people in the affected areas as carrying cash in many parts is risky.

Hundreds of organisations from different walks of life have announced to help the flood-affected people and allocated millions of rupees. These organisations have shown their commitment to provide help on their own distrusting the already existing relief agencies including political parties and known NGOs.

The State Bank has also constituted four committees of different banks to help the people and revive the economy of the flood-affected areas.