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  • Jan 17th, 2010
  • Comments Off on House financing product to be designed for journalists: NBP
Syed Ali Raza President and CEO of National Bank has announced to design a house financing product for the journalist community. While addressing a reception hosted by Karachi Union of Journalists (Dastoor) for newly elected office-bearers of Karachi Press Club (KPC) here on Saturday he dispelled the impression that journalists were marked as blacklisted for acquiring loans from banks and explained that they (and lawyers as well) did not meet the criteria of acquiring loans.

Journalists have limited source of income and did not own worthy properties against which they could be sanctioned loans, therefore financial institutions under their policies avoid to provide long term loan facility to Journalists, he explained.

At his first ever visit to KPC, President-NBP announced to design a house financing product for the journalists community especially for KPC members, so that they could construct their houses on the plots that KPC has acquired for its members on cheap rates from the government. He said it will not be easier to come up with such a brilliant product, but he will try his best, he underlined and invited office-bearers and members governing body of KPC and KUJ next week to start work on proposed product.

He said NBP might not do it all alone, therefore, it would involve two to three other financial institutions as well to offer the product. He also announced to take the responsibility of revamping KPC Computer Lab, which recently was named of renowned 'Muhammad Sabhiuddin Ghausi' in his memories.

Copyright Business Recorder, 2010


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