NBP president Imran Sarwar gets Rs 9.5 million a month, two cars and Rs 30 million life cover

Imran Sarwar, the new president and chief executive of the National Bank of Pakistan (NBP), will be paid a gross salary of Rs 9.5 million a month, plus a Rs 1 million monthly house rent allowance, two cars and Rs 30 million of life cover, under a package NBP's shareholders have approved, Business Recorder reported from the bank's filing with the Pakistan Stock Exchange on Friday 23 October.

The package runs from the day he took office, 9 September 2026, to 2029 and stays fixed for the contract. It was approved under Section 11(3)(a) of the Banks (Nationalization) Act, 1974, and is subject to tax.

The package, item by item

Utilities, two home phones and two mobile phones are paid at actual cost. At the end of the contract he can buy the 3,500cc car for 10% of its cost or its written-down value, whichever is higher. If the bank ends the contract early, he is paid for the rest of the term; if he resigns, he serves three months of "gardening leave".

What it adds up to

Salary and house rent alone come to Rs 10.5 million a month, or Rs 126 million a year, before the bonus and benefits. Want to see how tax eats into a salary at any level? Try our income tax calculator or the salary breakdown calculator.

Who is Imran Sarwar

Sarwar has more than 36 years in banking in Pakistan and abroad. Before NBP he was Group Executive, Risk and Credit Policy, and Chief Risk Officer at United Bank Limited, and earlier held senior posts at Standard Chartered, including Managing Director and Head of Corporate Banking for the UAE. He has sat on the boards of Khushhali Microfinance Bank and the Pakistan Mortgage Refinance Company.

NBP is the country's largest state-owned bank and handles government receipts, pensions and salaries for millions of public employees.