The National Bank of Pakistan (NBP) on Monday signed a memorandum of understanding with Master Motors to provide commercial vehicles under the Prime Minister Youth Business Loan Scheme (PMYBL).
NBP President Syed Ahmed Iqbal Ashraf while talking to media said that the bank was making hectic efforts to make PMYBL result-oriented.
“Until now, over 4,912 applicants have been provided loans by NBP, collectively amounting to over Rs2.885 billion,” he said, adding that the ratio of recovery of PMYBL programme was the highest (98 per cent) that shows the proper utilisation of the loans.
Mr Ashraf further said, “NBP will form alliance with more companies to make available a wide-range of products to the borrowers of the PMYBL,” adding that NBP would continue to support the scheme irrespective of the fact that any other bank participates in this programme or not.
