Senate body urges NBP to promptly meet financing needs of sugar mills

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KARACHI: Senate’s Standing Committee on Finance and Economic Affairs has advised the National Bank of Pakistan (NBP) to promptly meet the financing requirements of sugar mills, as a delay in financing affects sugarcane growers.

The Senate body at a meeting chaired by its chairman Saleem Mandviwalla at the NBP head office, here on Tuesday, reviewed the NBP’s financing facility in order to increase the sugarcane purchasing capacity of sugar mills.

The Senate committee expressed satisfaction over the promotion process of NBP employees and stressed that a review committee should be formed to address genuine complaints of employees.

NBP President Saeed Ahmed, briefing the Standing Committee, said that the employees have been promoted on merit in accordance with their abilities and professional skills and in line with rules and regulations.

“If any employee has any complaint towards this end, they may appeal. Some elements are involved in unnecessary propaganda on the matter of promotions,” he further commented.

The meeting also discussed the opening of NBP branch in China.

The NBP president told the meeting that necessary formalities are being met for this purpose and various steps are being taken to improve the bank’s performance, and soon these efforts will produce positive results.

Later, talking to the media, Senate Standing Committee Chairman Saleem Mandviwalla, expressed satisfaction over NBP’s management and emphasised the need for further promoting merit and professional abilities.

On this, the NBP president replied that steps are being taken for the regularisation of contractual employees and they will be regularised as per rules and regulations.

The meeting was also attended by Senators Ilyas Ahmed Balour, Muhammad Mohsin Khan Leghari, Nasreen Jalil, Saud Majeed, Barrister Murtaza Wahab, Usman Saifullah Khan and Mohsin Aziz.