National Bank of Pakistan (NBP) President Syed Ali Raza has said that bank is working on new banking products under President Rozgar scheme. He expressed these views while talking to newsmen at a three-day Federal Board of Revenue (FBR)'s moot on 'Tax policy options for Pakistan' on Wednesday.
The NBP President also said the bank has not ended the Rozgar scheme, however it is under review and new banking products could be launched under this scheme. He admitted that the bank has stopped financing green rickshaws, which part of the President Rozgar Scheme, due to technical faults in the some rickshaws. "Under the scheme, the NBP was financing rickshaws of six companies. The bank has been facing quality issues from the two rickshaw manufacturers. The quality issues surfaced due to improper use of rickshaws," he added.
On micro-finance, Ali Raza said the bank was not thinking of directly financing the micro-finance sector, in fact it is financing micro-finance institutions. "There is no point of developing infrastructure for micro credits when there are micro-finance specific banks in the market," he added.