KARACHI: National Bank of Pakistan shareholders approved an NBP CEO package giving Imran Sarwar a Rs9.5mn gross monthly salary and Rs1mn house rent allowance.
National Bank of Pakistan (PSX: NBP) disclosed the package in a Pakistan Stock Exchange filing on Friday. The terms cover 2026 to 2029 and take effect from September 9, when Sarwar assumed office.
Applicable taxes will be deducted. Sarwar can also receive an annual performance bonus. Shareholders will approve the key performance indicators, while the board will assess his performance.
The package provides two vehicles. One can have an engine of up to 3,500 cc, while the second will come from the bank’s pool.
Read: Pakistan, IMF Reach Staff Deal for $1.21 Billion Funding
NBP will provide two drivers or reimburse Rs45,000 per driver each month. It will also reimburse Rs150,000 monthly for five domestic workers.
Other benefits include utilities, phone bills and four security guards at his residence. A residential generator facility of up to Rs1.5mn is also included.
Sarwar will receive medical and dental cover for himself and dependent family members in Pakistan. His life insurance cover is Rs30mn, with the annual premium split equally between him and the bank.
Read: Pakistan, IMF Reach Staff Deal for $1.21 Billion Funding
The package also provides 30 days of annual leave and 18 days of casual or sick leave each year. NBP shareholders approved a package giving President and CEO Imran Sarwar Rs9.5mn gross salary per month, plus allowances and other benefits.
