NBP plans investment in Power sector


The National Bank of Pakistan (NBP) in collaboration with Habib Bank is planning to invest Rs. 80 billion in a 1,200 MW Power Generation Project.

NBP Vice President Syed Ibn-i-Hasan said his bank had set aside Rs. 15 billion which would be loaned to jobless Youths under the Prime Minister Youth Business Loan Scheme. A reasonable share of the amount had been kept for Balochistan, he added.

He said, had received over 60,000 applications for loan. He said under the corporate social responsibility policy, the Bank had been extending financial assistance in Health, Education and Sports sectors in the province.

Mr Ibn-i-Hasan said that NBP was going to purchase a Bank to introduce Islamic banking service.

He said after receiving complaints about technical faults in its ATMs, the bank was planning to install 1,200 new machines in the country so that people could draw cash without any difficulty.