Bank of Punjab chief sacked

LAHORE — The Punjab government has sacked Bank of Punjab (BoP) President Humaish Khan and reconstituted its Board of Directors.
Knowledgeable sources said the name of Humaish Khan could also be placed on the Exit Control List (ECL), after which it will not be possible for him to leave the country without prior permission of the government.
Humaish was appointed by the previous government and was close to PML-Q leaders including former chief minister Chaudhry Pervaiz Elahi and PML-Q President Chaudhry Shujaat Hussain.
According to spokesman of the Punjab government, the government reviewed the financial affairs of the Bank of Punjab in consultation with the State Bank of Pakistan.
He said the government, which is the majority shareholder of the bank, is committed to strengthening the administration of the bank and through the change of management and the Board of Directors, it would seek to strengthen structure of the bank to ensure profitability and transparency.