KARACHI: The National Bank of Pakistan (NBP) on Monday signed an MoU with Master Motors to provide commercial vehicles to the youth under the Prime Minister Youth Business Loan Scheme (PMYBL).
NBP President Syed Ahmed Iqbal Ashraf said over 4,912 applicants have been provided loans by NBP, collectively amounting to over Rs2.885 billion. The ratio of recovery was the highest (98 per cent) that proves the proper utilisation of PMYBL programme loans.
Mr Ashraf further said NBP will form alliance with more companies to provide a wide-range of products to the borrowers of the PMYBL. Master Motors is one of the leading manufacturers of Chinese commercial vehicles in Pakistan.
