Staff Report Islamabad
Engro Fertilizers Limited and The Bank of Punjab (BOP) have collaborated to provide easily accessible financing to farmers through BOP’s branch net-work across Pakistan.
Under this arrangement, progressive farmers under Engro Fertilizers Limited’s Shandaar Kissan pro-gram will be able to avail financing on easy terms and concessional markup rates from the BOP.
These farmers will avail this facility to invest in their in-frastructure, mechanization and working capital for yield improvements.
This financing arrangement will help farmers to improve farm economics through better production and, thus, increase their income levels as well.
The MoU signing ceremony, held at Engro Fertiliz-ers Limited’s Head Office in Karachi, was attended by Amir Iqbal – Chief Commercial Officer and Imran Ahmed – Chief Financial Officer of Engro Fertilizers Limited, whilst the BOP was represented by Farid Ahmed Khan – Group Chief Corporate Investment Banking and Asif Riaz – Group Head Retail & Priority Sectors Lending.
In a joint statement, Amir Iqbal (Chief Commercial Officer, Engro Fertilizers Limited) and Asif Riaz (Group Head Retail & Priority Sector Lending, The Bank of Punjab) shared that, “Prioritizing financial inclusion and well-being of farmers is key to de-velop the agricultural sector, which in turn results in the progress of Pakistan.