SBP Recommends Work-from-Home Model for Banks to Cut Travel Costs

The State Bank of Pakistan (SBP) has asked commercial banks and financial institutions to introduce measures for reducing the utility of energy resources in operations. These instructions are being adopted in line with the federal and provincial governments’ policies for addressing the prevailing energy situation in the country. The banks may formulate a policy on “Work From Home (WFH)” whereby banks’ offices (other than branches) can observe, one/two days every week, as WFH to achieve the intended objectives. The banks may close all of their premises including branches at 7:00 pm or earlier and switch off their electric supply except for any emergency use, call centers, monitoring of Alternative Delivery Channels (ADCs), back-ups, and maintaining necessary electrical/ IT equipment. Moreover, the air-conditioners at ATM vestibules may be used economically. The electrically illuminated signboards of branches and other offices shall remain switched off at all times. The banks are encouraged to hold their meetings (intra/inter-city etc.) virtually and also curtail their local as well as international traveling expenses. They should also encourage their staff to pool their transportation for commuting to and from their respective offices and take any other measure(s) to reduce the bank staff’s commutation time. The banks may adopt the use of alternate and cost-effective sources of energy such as the deployment of solar technologies and encourage the use of energy-efficient equipment, fixtures, and appliances on their premises. The banks may take any other steps/ actions to curtail the consumption of electricity and fuel in their respective offices including branches. The banks shall enhance the awareness of their employees as well as customers about energy conservation initiatives and encourage them to take part in this energy conservation drive. In order to achieve the intended objectives, the banks are advised to ensure adequate oversight and monitoring mechanisms of the energy conservation drive. Banks are also advised to take appropriate measures and share their energy conservation plan with SBP by June 24, 2022 (Friday). Such measures should be effective latest from July 01, 2022.