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National Bank of Pakistan (NBP): Pension outflow to keep dividend paying capacity in check – By Alpha - Akseer Research

  • By: Alpha Capital (Private) Limited

  • - Published: Thursday, 21 March 2024
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<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">According to the notice issued by NBP at PSX, Supreme Court of Pakistan has dismissed the Bank&rsquo;s review petition in the Pension case.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">To highlight, in 1999 after amendments in Banks Nationalization Act, the basic salary of Bank&rsquo;s employees was increased by 110% to 140%. Whereas, the formula for calculation for monthly gross pension was revised.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">In 2010, number of employees after attaining the age of superannuation filed Writ Petitions before the Lahore High Court and Peshawar High Court, praying for recalculation of their pensionary benefits ac...

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