Piece of Cake: Sindh Bank Got New Business Stream from Sindh Revenue Board

By Ali Ahmad · Tuesday, Jun 19, 2012 1 Comment

In an interesting turn of events, Sindh Govt beloved venture, Sindh Bank will soon be getting new stream of business from Sindh Revenue Department.

According to BR, Sindh Revenue Board (SRB) and Sindh Bank would likely to reach an agreement very soon for authorisation of some bank-branches in various areas of the province, to collect tax money from tax-payers.

According to the report, this initiative had been taken by the Chief of Sindh Bank who visited SRB head-office a few weeks back in order to make an agreement for authorisation of some branches of Sindh bank by the SRB.

Although it was also mentioned that initially, very few services which have low tax-income would be assigned to Sindh Bank branches as the staff of the provincial bank branches can learn this new practice of tax-collection through automation system.

Some branches of Karachi, Hyderabad, Sukkur and other districts would be authorized for the SRB services tax deposits. Sindh Bank has 53-online branches in Sindh, Punjab and Khyber Pakhtunkhwa.

Sindh Bank is the first bank set up in the province by the Government of Sindh. The initial investment in the Sindh Bank by the provincial government was Rs. 1,000 Crore.