The Prime Minister has approved a three month extension for National Bank of Pakistan President Arif Usmani.
According to sources, the PM has approved the summary sent by the Finance Division asking for a three month extension for the NBP president.
His three year term was due to expire on February 12, 2022.
The incumbent government had initially appointed him back in February 2019 for three years.Â
According to sources the government is yet to initiate the hiring process for a new president.
Granting three month extension is actually great news.
heading NBP when it had HASCOL scam .shame on this extension Despite earning billions and giving hefty bonus to employees paid none to shareholders. This reminds me of another usmani chairman pso .he served in PIA ,PTC;and HBL at member level and his craftsmanship was he changed logos worth billions in each company where he went.
There is another scam which FIA left out and pulled its hands from it, now that huge scam is in supreme Court and it is related to one of its subsidiaries
Usmani Sahib is a decent man but a terrible banker. I say this as a professional in the field for 30 years including as a bank President. His biases allowed companies like Hascol (or previously for National Bank under Iqbal ashraf and Syed Ali Reza Omni group) to get massive loans and default with no consequences either to the loan takers or givers. None of these people were bad (though accusations abound of corruption). They were bad bankers and that is proven by their track record.
There is another scam which FIA left out and pulled its hands from it, now that huge scam is in supreme Court and it is related to one of its subsidiaries