The Department of Jails and The Bank of Punjab (BoP) reached a settlement that permits inmates in Punjab to open individual bank accounts.
The BoP President, Zafar Masood, and the Inspector-General (IG) of Prisons, Mirza Shahid Saleem, have signed an agreement for the project. The BoP now allows prisoners to open accounts. The modification also makes it possible for family members to send money to them using EasyPaisa and JazzCash. According to rumors, convicts will be able to monitor their accounts even after being released and while being moved between facilities.
The internet banking system, in accordance with IG Saleem, will aid in the eradication of any potential corruption in the system. Earlier this week, Col. (Retd.) Muhammad Hashim Dogar, the provincial minister for homes and prisons, announced the introduction of vocational training as an additional measure to enhance the welfare of prisoners in the province.
While presiding over a meeting of the Jails Reforms Committee, he stated that the ministry is trying to provide offenders with access to the greatest vocational training facilities so they can live better lives after being released from jail.
The gathering was arranged to talk about the rising jail population as well as numerous suggestions for offering international standards-compliant basic amenities like shelter, food, entertainment, and health care. Minister Dogar informed us that Punjab has more than 50,000 convicts and pledged to give all of their issues a priority.
12 prisoners including killers and robbers run free from custody in Lahore
In a recent financial report for the first half of 2022, the Bank of Punjab (BOP) reported a profit after tax of Rs5.42 billion, down from Rs5.60 billion in the same time previous year. The bank reported a before-tax profit of Rs. 8.36 billion, up from Rs. 7.37 billion in the first half of 2021, a 13 percent increase. Its net interest margin increased by 14% over the relevant period, rising to Rs15.86 billion from Rs13.88 billion.
The bank’s non-markup/interest revenue climbed by 61 percent to Rs4.46 billion from Rs2.77 billion during the previous six months (gains on securities excluded). In comparison to Rs1.88 per share, earnings per share (EPS) stayed at Rs1.82 per share. The bank’s total assets increased to Rs1, 254.4 billion as of June 30, 2022, from Rs1, 197.0 billion as of December 31, 2021.
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