The board of the National Bank of Pakistan (NBP) has approved a significant increase in the salary and benefits package of Rehmat Ali Hasnie, the bank’s President and CEO.
Sources told ProPakistani that the new package will provide him with a gross monthly salary of Rs. 9 million.
Performance bonus based on Key Performance Indicators (KPIs) approved by shareholders. House rent allowance of Rs. 1 million per month, replacing concessional staff home loan.
Other features of the package include two landline phones and two mobile phones with monthly bills covered. Deployment of four security guards at the residence (two guards per 12-hour shift).
Salary reimbursement for five domestic staff members (Rs. 150,000 per month). Provision of one new vehicle up to 2,800cc and an option to buy a car at 10% of its cost upon contract completion. Additionally, two drivers will be provided, or their salaries (Rs. 35,000 per driver per month) will be reimbursed.
30 days of annual leave and 18 days of casual/sick leave annually, with up to 90 days of leave allowed to accumulate and encashable. Full medical and dental coverage within Pakistan for himself and dependents on a reimbursement basis (No post-retirement coverage).
Life insurance coverage of Rs. 30 million, with the premium split between the bank (50 percent) and Hasnie (50 percent). A gratuity of one month’s salary for each year of service. The bank will pay the entry fee for one club of Hasnie’s choice and cover subscription fees for up to three clubs.
In the event of contract termination, a three-month notice period or salary in lieu of notice will be provided by the bank. If Hasnie resigns, he must provide three months’ notice or pay the equivalent of three months’ salary.