The President and CEO of the National Bank of Pakistan, Rehmat Ali Hasnie, has received a significant increase in his salary and compensation package, as approved by the bank’s board of directors. His new package will provide him with a monthly salary of Rs. 9 million.
Performance bonuses are based on shareholder-approved Key Performance Indicators (KPIs). Salary replacement for the concessional staff house loan: one million rupees per month for housing allowance.
In addition to two landlines and two mobile phones, the plan covers their monthly fees. Security detail consisting of four personnel, divided into two 12-hour shifts, will be stationed at the residence.
A monthly budget of Rs. 150,000 will be allocated for the salaries of five domestic helpers. Upon fulfilling the contract, he will have the option to purchase a vehicle at just 10% of its cost, along with receiving one brand-new vehicle (up to 2,800cc). Moreover, two drivers will either be supplied with the necessary equipment or will have their salary repaid, amounting to Rs. 35,000 for each driver every month.
He is entitled to 30 days of annual leave and 18 days of casual/sick leave per year. He can collect and cash in up to 90 days of leave. He and his dependents are covered for medical and dental care within Pakistan on a reimbursement basis. However, this coverage does not continue after retirement.
The bank offers a life insurance policy valued at 30 million rupees, with premiums equally shared between the bank and Hasnie. Additionally, Hasnie will receive a one-month salary bonus for every year of service. He can choose one club to join, with the bank reimbursing his subscription fees for up to three clubs.
In the case of contract termination, the bank will provide either three months’ notice or salary in lieu of notice. Similarly, if Hasnie decides to leave, he will be required to give three months’ notice or receive a payment equivalent to three months’ salary.
