yet. but there is no doubt that for bringing about demand - driven balanced regional development and delivering basic services to the vast majority of the poor, there is no better vehicle than the district, tehsil and union - level governments. the sooner the problems facing this transition are resolved, the greater will be the impact on development of backward areas and the services to the poor. ( f ) growth alone will not suffice to reduce the incidence of poverty. it has to be accompanied by poverty - targeted interventions and social safety nets. the khushal pakistan program initiated by the musharraf government in 2000 was a success in building minor but essential infrastructure projects at the local level and creating employment opportunities. zakat, baitul mal, and food stamps are some other programs that can distribute the benefits of growth to the vulnerable and disadvantaged segments of the population. these programs need to be revamped and revitalized in order to become effective social safety nets for the poor. ( g ) pakistan ’ s export base is still quite narrow and highly concentrated. cotton textiles account for two - thirds of total exports. dynamic export, products that are all dependent on medium and high technology are conspicuous by their absence. in order to maximize the benefits from globalization and buoyant world trade, we have to gradually build up our capacity to produce medium and hi - tech exports. this will not only diversify the base but also insulate us from fluctuations and volatility in cotton and textile output and trade. ( h ) even if all the above mentioned challenges are successfully tackled, the economy and the people, particularly the poor, will not be able to derive full benefits unless our institutions are restructured and their capacity strengthened. civil service, judiciary and police are the key institutions that affect a common man ’ s daily life. regulatory impediments are still hampering new businesses. reforms of these institutions have to be put on top of the agenda and pursued relentlessly. the thana - kutchery tehsil nexus that has remained intact since the colonial days has instilled a sense of fear and insecurity in the minds of the poor and unconnected and locked in their initiative and drive so critical for any growing economy. 1 ) the unleashing of their energies in a more supportive institutional environment will do a lot of good to higher growth and poverty - reduction goals. in the short term, however, we are grappling with the problem of inflation. after four years of low inflation

is wholly or partially involved. the events like privatization of financial institutions, liberalization in the economy, stiff competition among the market players, advancements in information technology and telecommunication have brought about newer aspects of complexities along with growth of the banking sector. the increasing complexity in the products being offered by banks and substantial growth in consumer credit has caused a significant increase in the number of complaints with diverse nature of disputes. although sbp continued to redress public grievances against banks, the increasing number of complaints require a reliable and independent source of complaint redressal. therefore, institution of banking mohtasib pakistan was established in 2005 under part vi a of banking companies ordinance, 1962. it may be clarified that jurisdiction of banking mohtasib is well defined and not restricted to maladministration of public sector banks only. the banking mohtasib is competent to entertain complaints from customers, borrowers, banks or from any concerned person. in the first instance, the banking mohtasib has been mandated, under the law, to try and facilitate an amicable resolution or settlement by resorting to mediation, failing which he can pass an order that if not appealed against within a defined timeframe becomes final and operative. as per report of banking mohtasib, it has disposed off 2879 complaints in 2009. while it is a very modest beginning, state bank is assisting banking mohtasib to increase its capacity and outreach to facilitate the aggrieved customers of the bank. sbp ’ consumer protection department : besides direct complaints received from general public, state bank is appellate authority against decisions of banking mohtasib under the same part vi a of banking companies ordinance. till 2008, sbp was handling public complaints through banking policy and regulations department. however, in the wake of increasing number of complaints as also due to its enhanced responsibility as appellate authority against decisions of banking mohtasib, sbp created a specialized department namely, consumer protection department to resolve banking disputes in a more focused and professional manner. the department was able to dispose of 8000 complaints during the year 2008 whereas during 2009 a total number of 13000 complaints were handled. the very objective is to provide a faster, cheaper and efficient way of redressing public grievances and resolving disputes. sbp feels that it has contributed toward reduction of court cases which in the absence of the mechanism were sure to go in courts. in addition, various courts have been sending cases to sb