@ NBP Nationa ket Ean HEAD OFFICE KARACHI PRESIDENT OFFICE CIRCULAR NO:05/2024 21, May , 2024 R EXECUTIVES & OFFICERS: ‘As the Bank approaches Its 75 year of providing services to the nation, our journey has been one of Browth and adaptation without losing sight of our duty to do so. In spite of inflationary challenges, NBP staff members have worked extremely hard to achieve the Bank's highest level of profitability. ‘We honor and value the many efforts and contributions of our devoted staff members, whose ‘unwavering commitment and perseverance have contributed to the Bank's success In order to recognize those efforts, the Management is pleased to announce that the Board of Directors (Board) In its 361" meeting held on May 17%, 2024 has approved the increase in pay and slowaneas of Bank's officers and executives (Regular and Contractual) subject to applicable terms and conditions. Below are the changes according to eligibility of employees. 1, The Board has graciously approved management's proposal on appraisal Increments, effective January 01, 2024, Performance Category | Basic Pay increase % | Basic Pay Increase for SvP and above _| for VP and below ‘Outstanding 16% 38% Very Good 13% 16% Good % 13% ‘Needs Improvement 2% 2% Unsatisfactory 0 oO Itis ensured that a minimum increment of PKR 2,500/- on Basic Pay would be applicable to eligible ‘employees, ‘The above increase would be disbursed according to the following terms and conditions: + All employees who were In Bank's service as on 30.06.2023 and who are on the active payroll of the Bank as of 01.01,2024 are eligible for increase of Annual Performance Appraisal ~ 2023 except for those who fall in any of the below mentioned clauses. This increase will be calculated on the basic pay of 31.12.2023. + Employees against whom any disciplinary case is pending are eligible for increase until case is decided with punishment. + Retired regular Executives and Officers rehired by the Bank, are not entitled for Annual Increase for APA 2023. ‘+ Employees who retire from the Bank's service as on 31.12.2023 are not entitled for Annual Increase for APA 2023. + All those employees who resigned / dismissed / terminated / had vacation of appointment/ ‘contract expiry during the year 2023 or tll issuance of date of this circular are not entitled for ‘Annual Increase for APA 2023. + Employees on fixed stipends/salaries are not entitled for Annual increase for APA 2023. + Employees on EOL (without pay) for 180 days or more, during the year 2023 are not entitled for Annval Increase for APA 2023. + Employees who joined the bank on or after 01.07.2023 are not entitled for Annual Increase for APA 2023.+ Employees on unauthorized leaves are not entitled for Annual Increase for APA 2023. ‘As the Special allowance was discontinued with effect from Jan 01, 2024, same has been merged with the following revisions: 2, CONVEYANCE ALLOWANCE National Bank of Pakistan has always led in taking challenging decisions for the betterment and satisfaction of its employees. The Board has approved management's proposal of converting Conveyance allowance from fixed amount to petrolliters at average of actual monthly market rate for Vice President and below grades. Below are the petrol liters as per grades effective from 01" January 2024, Grade Petrol Liters (Monthly) Vice President (VP) 180 ‘Assistant Vice President (AVP) 155 ‘Officer Grade + 120 ‘Officer Grade 320 Officer Grade =i 105 3, UTILITY ALLOWANCE The Utility allowance has been increased by 3% per month for all grades effective from January 01, 2024. 4 F UI ‘The Cost of Medicine allowance has been increased by 2% per month for all grades effective from January 01, 2024. 5. ‘The Cost of Consultation allowance has been increased by 2% per month for all grades effective from January 01, 2024. 6, MEALALLOWANCE “The Bank has increased the Meal allowance for all eligible officers from PKR 1,700 per month to PKR 3,500 per month effective from January 01, 2024, 7. HILL ALLOWANCE To give special relief tothe ‘areas which have difficult terrain, the Hill allowance has been increased ‘by PKR 1,000/- per month effective from January 01, 2024. 8, EDUCATION ALLOWANCE Education allowance is a claim-based allowance which is being provided to employees for ‘education of their children, It is observed that this allowance was not igible to executives in. contract cadre, This year education allowance Is being allowed to contract employees in AVP and VP grades at PKR 8,000/- per month from 01" January, 2026. Education allowance i being governed under the below mentioned conditions for all eligible employees. of the Bank in al grades: 4) This allowance will only be allowed to the employees from the date of claim of the allowance. b) No back dated arrears are applicable fortis allowance. However, since this allowance s being allowed to AVP and VP on contract for the first time, therefore, their applicability would be ‘tram lan 01, 2024 or date of eligibility whichever is later for 2024 only.‘PRESIDENT OFFICE CIRCULAR NO:0972024 4) Required documentation to be completed before claim of the allowance as directed by the dealing office 9. MARRIAGE GRANT Marriage grant has been increased from PKR 190,000/- to PKR 205,000/- effective January 01, 2024, for regular employees only. 10. FUNERAL EXPENSE Funeral expense has been increased from PKR 140,000/- to PKR 155,000/- effective from January 01, 2024. 111, MATERNITY CHARGES Maternity charges have been increased from PKR 85,000/- to PKR 95,000/- effective from January 01, 2024. 12. ONE-TIME RELAXATION ‘One-time relaxation has been allowed on Staff House Building Finance and Motor Car Fir facilities subject to debt burden ratio as per staff loans policy. 13, PROFIT BONUS National Bank of Pakistan (NBP) has again delivered solid financial results and has posted one of ‘the highest profits in the market. The Board has approved Profit Bonus 2023 for VP and below employees, The below amounts will be paid subject to terms and conditions: AVP 061 [| 0Gn | OGi | 75,000 | 65,000 | 52,000 | 52,000 | 52,000 Terms and conditions: + All those employees who were in the Bank's service as on 30.06.2023 are entitled for the bonus except for those who fallin any of the below mentioned clauses. + Employees who joined the bank after 01.01.2023 til 30,06.2023 are entitled for the Profit Bonus on pro-rata basis. = Allthose employees who resigned/ dismissed / terminated during the year 2023 or 2024 (till the date of issuance of this circular) are not entitled for profit bonus 2023. ++ Allthose employees who retired / passed away / contract expired during the year 2023 are entitled for the profit bonus on pro-rata basis. + Alltthose employees who were on leave without pay for 180 days or more during the year 2023 shall not be entitled for profit bonus. + payment of profit bonus 2023 for employees currently reported as unauthorized absent / ‘under suspension will be treated as per Bank rules and separately reported to EDW - HRMG Head Office. 7 + Employees against whom any disciplinary/ fraud/ forgery case is pending will be handled according to the Employee Disciplinary Policy. 14. PERFORMANCE BONUS Board has approved disbursement of Performance Bonus 2023 to employees who have been rated in performance categories “Outstanding” or “Very Good" and are eligible according to the terms and conditions for the performance bonus. Page 3 of 4The disbursement of performance bonus will be subject to completion of certain et of formalities/conditions, which will be communicated to all respective Group Chiefs through emails for their confirmation. All NBP Groups/ Ovisions are requested to kindly ensure compliance to the completion of the process. All the payments would be subject to applicable withholding taxes. Employees must ensure confidentiality; the amounts must not be shared with anyone, In case if negligence is found in this regard, the progressive disciplinary measure will be initiated and may lead to recovery/claw back of the full amount paid We are confident that the above revision of pay allowances and other benefits will further Promote a culture of high performance, and our employees will continue to put in more ardent efforts with greater zeal and devotion to boost NBP’s profitability and preserve its prominence a leading Nation’s Bank. Wishing NBP family happiness and success, ZT Mirra Muhammad Asim Balg Rg EVP/Group Head HRMG President & CEO Copy for information ‘The PSO to the President, President's Secretariat, NBP Head Office. All Group Chiefs / Divisional Heads / Network Monitoring Heads at Head Office, All Regional Heads / Regional Executives at Regional Offices. All Regional Audit Chiefs, All Directors, NBP, Staff Colleges / JNMOC. All Chief Managers / Branch Managers / Operations Managers / Compliance Officers, domestic and overseas branches. Page 4 of 4