Punjab, NBP officials discuss promotion of agriculture

Provincial finance minister and bank president talk of extending loans

KARACHI: Punjab officials and National Bank of Pakistan stressed their commitment to facilitate small farmers, helping them secure loans to improve the working of the agriculture sector.

Aisha Ghaus Pasha, the provincial finance minister, and Muhammad Naeem Akhtar Khan Bhabha, agriculture minister Punjab, had a meeting with NBP President Saeed Ahmad to discuss the close cooperation in the e-credit scheme for agriculture.

Under the e-credit scheme, small agri farmers are being provided financing for which mark up is being borne by the Punjab government.  NBP has committed to lend up to Rs30 million under the scheme.

Pakistan is an agri-based economy and keeping focus on the growth of this sector is imperative for the overall growth. To ensure that the loans under e-scheme reach the most deserving candidates, a strategy was designed where NBP will partner with the best performing microfinance institutions and extend credit lines to these institutions. These institutions will use the same credit lines to disburse loans to the small farmers under e-credit scheme country-wide.

Pasha stated that the government is determined to empower farmers, especially small land holders, landless farmers and those who have never availed any financial facilities. She further added the government is also working on schemes to promote SME sector for which they will be seeking cooperation from NBP and other banks.

Published in The Express Tribune, August 30^th, 2017.

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