SBP takes various measures to conserve energy

Our Correspondent
Thursday, Jun 23, 2022

KARACHI: The State Bank of Pakistan (SBP) on Wednesday said it has taken a number of measures to conserve energy and fuel in the banking sector.

This move comes after the federal and provincial governments took a number of actions to address the prevailing energy crisis in the country. “The banks may formulate a policy on Work From Home (WFH) whereby bank offices (other than branches) can observe, one/two days in every week, as WFH to achieve the intended objectives,” the SBP said in a circular.

“The banks may close all of its premises including branches at 7:00pm or earlier and switch off their electric supply except for any emergency use, call centres, monitoring of Alternative Delivery Channels (ADCs), back-ups and maintaining necessary electrical/IT equipment. Moreover, the air-conditioners at ATMs vestibules may be used economically,” it added.

In view of the foregoing, banks are advised to take appropriate measures and share their energy conservation plan with the SBP latest by June 24, 2022 (Friday). Such measures should be effective from July 01, 2022, it said.

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 travelling expenses.

The banks shall encourage their staff to pool their transportation for commuting to and from their respective offices and take any other measure(s) for reducing the commutation time of the bank staff, it said.

The banks may adopt the use of alternative and cost effective sources of energy such as deployment of solar technologies and encourage use of energy efficient equipment, fixtures and appliances in their premises.

The banks may take any other steps/actions to curtail the consumption of electricity and fuel in their respective offices, including branches, according to the SBP. In order to achieve the intended objectives, the banks are advised to ensure adequate oversight and monitoring mechanism of energy conservation drive.