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NBP gives Rs2.885b loan to youths, signs MoU for vehicles

NBP gives Rs2.885b loan to youths, signs MoU for vehicles

KARACHI: A Memorandum of Understanding (MoU) has been signed between the National Bank of Pakistan (NBP) and Master Motors, one of the leading manufacturers of Chinese commercial vehicles in Pakistan, to provide vehicles for the Prime Minister Youth Business Loan Scheme (PMYBL).

While talking to the journalists, NBP President Syed Ahmed Iqbal Ashraf said that the bank was struggling to make the scheme successful, adding “Until now, over 4,912 applicants have been provided loans by NBP, collectively amounting to over Rs2.885 billion,” he said.

The NBP president said that the ratio of recovery of PMYBL programme was the highest (98 per cent) that shows the proper utilisation of the loans. He said that the Bank would form alliance with more companies to make available a wide-range of products for the PMYBL.