Mechanization scheme: Disbursements begin for tractor loans
ZTBL has allocated Rs69 billion for 2012 for the project.
ISLAMABAD:
The Zarai Taraqiati Bank Limited (ZTBL) has started disbursing funds to farmers under the tractor financing scheme to help them mechanize agricultural activities and enhance crop yields. Officials told the APP that ZTBL has allocated Rs69 billion for 2012 for the project. The loan facility will be provided against the Zarai Pass Book and no other cash security will be demanded by the banks. The bank has decided to focus on smaller land holders to provide them modern tools of cultivation and help alleviate poverty. Growers with up to a maximum of five acres of land will be eligible to benefit from the scheme that proves a million rupees in financing for the purchase of tractors. Application forms for the loans will be available at all the field branches of ZTBL for candidates.
Published in The Express Tribune, February 28th, 2012.
The Zarai Taraqiati Bank Limited (ZTBL) has started disbursing funds to farmers under the tractor financing scheme to help them mechanize agricultural activities and enhance crop yields. Officials told the APP that ZTBL has allocated Rs69 billion for 2012 for the project. The loan facility will be provided against the Zarai Pass Book and no other cash security will be demanded by the banks. The bank has decided to focus on smaller land holders to provide them modern tools of cultivation and help alleviate poverty. Growers with up to a maximum of five acres of land will be eligible to benefit from the scheme that proves a million rupees in financing for the purchase of tractors. Application forms for the loans will be available at all the field branches of ZTBL for candidates.
Published in The Express Tribune, February 28th, 2012.