The National Bank of Pakistan (NBP) will keep on financing the private sector units and introducing new facilities for the customers, said S. Ali Raza, Chairman and President NBP at a lunch hosted in his honour by Iftikhar Ali Malik, Chief Executive Guard Group and Director NBP.
This lunch was attended by prominent businessmen and leading industrialists of Lahore, says a press release issued here on Wednesday.
Muhammad Shafi Malik, "Sitara-I-Imtiaz", Chairman, Guard Group, Tariq Hamid, Chairman Wapda, Past Presidents and existing office-bearers of the Lahore Chamber of Commerce and Industry (LCCI) were also present.
Iftikhar Ali Malik said that NBP was catering to the requirements of mega projects adequately. He suggested that the rate of mark up on industrial loans and export financing be reduced to 3 percent, which during the past month was increased substantially. Mian Muhammad Ashraf, former LCCI president proposed that the Regional Office of NBP in Lahore should be given more powers to take decisions at the local level.
The Chairman and President NBP, S. Ali Raza thanked Iftikhar Ali Malik and appreciated his services on the Board of Directors of NBP.
He said that NBP was expanding its branch base and also introducing new facilities for the customers' service. About the mark up he said, since the liquidity increased with the banks mark up rates declined. But now the position is different. Tight financial policies are being followed. Therefore mark up rates were increased. The government has no fiscal space for providing subsidies in the shape of low rates of mark up, he added.-PR
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