20000312

'NBP now biggest

loaner to Gujranwala

industrial sector'

RECORDER REPORT

KARACHI: National Bank of Pakistan has become the biggest loaner to the Industries in Gujranwala which amounted to 28 percent of the local portfolio investment by the country's banks in the industrial sector.

This was stated by the President of NBP, Mohammad Mian Soomro while addressing the Gujranwala Chamber of Commerce.

He said that NBP will invest more to the industrial sector in near future.

He reminded that NBP took the lead in loading under SES Scheme which touched a soaring graph of 90 percent.

The other commitments included consideration of chamber's suggestions and proposals if received in black and white or in a proper working paper. But commencement of operations at a corporate branch was within sight.

He revealed that according to a clear policy of the State Bank of Pakistan, the bank will take up financing for revival of sick units as the work for resurrection of viable industries has started. The NBP's financial assistance will be to the extent of 60 percent but the owners will have to muster resources for the remaining part of the finances.

Announcement of other facilities for Gujranwala included opening of (ATM) Swift along with nine other major cities of the country. The system is linked with satellite channels. All electronic operations like funds transfer, remittances, collection of utility bills and other e-business facilities will be carried out by a private company through an agreement. Putting up a server for www.nbp.com.pk web site has provided businessmen with important information and statistics of the bank.

Talking about the arrangements for collection of utility bills the NBP President announced introduction of double shift at all branches with the operations being extended to specified branches for Sundays. Separate counters for men and women have been allocated while extra counters would be opened for peak collection days.

Incorporated on November 8, 1949, the National Bank of Pakistan performs sub-treasury functions on behalf of the State Bank of Pakistan, and is also the largest commercial bank with over 1400 branches spread all over the country, with 23 foreign branches and 5 representative offices in 16 countries in the world.