In this paper, we propose a new public key scheme, which is a combination of RSA variant namely the DRSA and the generalization of generalized discrete logarithm problem (generalized GDLP). The security of this scheme depends equally on the integer factorization of n and the discrete logarithm problem (DLP) on Z(n)*, where n is the product of two large primes and Z(n)* is the multiplicative group modulo n. The scheme is a randomized algorithm. It is at least as secure as the DRSA and ElGamal schemes. We also compare the encryption-decryption performance of the proposed scheme with the RSA and DRSA schemes.