Prime Minister Muhammad Nawaz Sharif visited the Head Office of National Bank of Pakistan at Karachi today.
The Prime Minister was briefed on the transformation in NBP and growth over the last three years. It was informed that deposits have raised and assets have increased in addition to higher profits.
The Prime Minister was given a comprehensive presentation on Prime Minister’s Youth Business Loan Scheme.
Prime Minister Muhammad Nawaz Sharif expressed his dissatisfaction over the pace on disbursements to the prospective clients under the PMYBL in general and denial in credit to the applicants in particular.
Being the major bank having leading share in PMYBL, the National Bank has not been able to achieve the desired objectives, the Prime Minister observed.
Our aim is to enable the marginalized segments of society, particularly the unemployed youth, to live with pride; we have always focused our energies to enable the unemployed people to earn their livelihood in a respectable manner, the Prime Minister stated.
The management of National Bank of Pakistan should employ specialised skills and expertise in the SME sector to expedite the disbursements.
The Prime Minister directed State Bank of Pakistan to conduct the fact finding audit of the large number of cases rejected under the scheme by the National Bank in three days. The Prime Minister also directed the management of National Bank of Pakistan to come up with a comprehensive and district wise data of the significantly large number of rejected applicants under the denial of credit. It is beyond comprehension that a significantly large number of applicants who are eager to make their living in a dignified manner are declined credit without any valid reason. This huge rejection needs to be justified; we need to encourage instead of frustrating our youth, the Prime Minister remarked.
The Prime Minister directed the senior management of NBP to put its heart and soul in the scheme. The scheme has been launched while maintaining utmost transparency and without any favouritism; we cannot afford unjustified delays in its execution, the Prime Minister maintained.