The Bank of Khyber (BoK) and the Khyber-Pakhtunkhwa Department of Food signed a memorandum of understanding on Wednesday for wheat procurement for the current season.
Under the agreement, Bank of Khyber will provide Rs7.5 billion for wheat procurement to the department. BoK Managing Director Bilal Mustafa said that the amount sanctioned for the purpose is Rs2 billion more than last year, adding that the provincial government had made due payments on time.
He said that last year, the bank extended credit of Rs1 billion to the Government of Punjab for the procurement of wheat.
Published in The Express Tribune, May 5th, 2011.
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