Summit, Sindh Bank's merger: PTI to move to court, says Khurram Sher Zaman

KARACHI: An adjournment motion on merger of Summit Bank with Sindh Bank was termed non-maintainable and it was rejected by Sindh Minister for Health Dr. Sikandar Mandhro in Sindh Assembly.

The motion against the merger was tabled by PTI-MPA Khurram Sher Zaman.

He said, "I believe that it is not in the best interest of the people," and the PTI will approach the court against its merger. He said that Sindh Bank is our bank and a bank (Summit) which is facing bankruptcy is being merged with it.

Khurram said it seems that someone is being benefited through the merger. Sindh Minister for Food and Parliamentary Affairs Nisar Ahmed Khuhro said that the idea is only under consideration and the Sindh Bank is a commercial bank it has shareholders as it is not totally a government bank.

He said that the merger has been approved by the shareholders and the State Bank of Pakistan (SBP) has not permitted to this effect so far. Adding that the merger will increase the branches of Sindh Bank and the people of the province will be able to approach it easily.