NBP disburses over Rs 6.5b under PMYBL Scheme

KARACHI: Irtiza Kazmi, Executive Vice President and Head Cash Management & PMYBL Coordination-CRBG at National Bank of Pakistan said that NBP had disbursed more than Rs.6.5 billion loans to over 7,000 youth under the PMYBL Scheme.

He said the other banks have contributed a small amount of money for the PM Youth Business Loan Scheme while National Bank of Pakistan had disbursed a huge amount of loans amounting to over Rs.6.5 billion.

He was speaking at the 4th Corporate Ambassador Award organized at Five Star Hotel, Karachi. Irtiza said the NBP was a leading player in promoting the Prime Minister's Youth Business Loan Scheme that now envisages about 6 percent mark-up only while government was giving subsidy of approximately 6 percent to the NBP and other lending financial institutions. He said that the PM Youth Business Loan Scheme was a huge success and the National Bank of Pakistan has recorded several success stories of the youth who got loans and running businesses successfully, especially womenfolk. He said that at present the challenge was the sustainability of the economic growth in Pakistan. He said the Government should maintain balance between borrowings and taxation to ensure a sustainable economic growth in Pakistan.

Irtiza Kazmi also received "Pride of Pakistan Award" for the National Bank of Pakistan. He appreciated the Corporate Ambassador for organizing awards that not only appreciates the outstanding achievements of the organizations and people but also motivates them to carry on their mission of attaining further excellence in their respective fields and professions.