Observer Report Karachi
Bank Alfalah Ltd (BAFL), one of the country’s leading financial institutions, and Al-Ghazi Tractors Ltd (AGTL) signed an MOU to facilitate farmers by fast-track processing and delivery of tractors as well as other farm machinery.
The ceremony was held at Shaadin Manzil, Lahore and the MOU was signed by Mr. Muhammad Saeed Mushtaq, General Manager Sales & Marketing AGTL and Mr. Javed Iqbal, Head SME & Commercial Banking, BAFL. Ms. Rooma Malik – officer Agri Finance, Mr. Yahya Hameed Wahla, Agri Business Head BAFL and Mr. Abdul Ahad – Senior Manager Marketing Planning, AGTL were also present in the event.
Pakistan’s agriculture sector is paramount to the economy as it contributes nearly 20% of the GDP and employs more than 42% of the nation’s total workforce. BAFL is continuously making efforts to facilitate this sector and the people it employs.
Through this partnership, farmers will be able to acquire tractors and other farm equipment manufactured by AGTL under the Prime Minister’s Kamyab Jawan Scheme (PMKJ). BAFL is extending collateral free tractor finance facilities to the farming community on subsidized markup rates.
