ZTBL signs two MoUs with Japanese companies for improving agricultural yields

Zarai Taraqiati Bank Limited (ZTBL) signed two Memorandum of Understandings (MoUs) with two Japanese companies M/s Finetech Japan Limited and M/s Waternet Invention Limited here on Friday aiming at enhancing quality of water and soil for increasing per acre yield and improving productivity through the introduction of modern agricultural machinery.
The first MoU was signed here at ZTBL Head Office by Naozo Sato, CEO and President M/s Finetech Japan Limited on behalf of his company while Muhammad Nadeem Chohan SEVP/Head Task Force ZTBL signed it on behalf of his organisation.
Similarly another MoU was inked by Irfan H. Khan Resident Director M/s Water Net Invention Ltd on behalf of his organisation while Muhammad Nadeem Chohan SEVP/ Head Task Force ZTBL on behalf of his organisation. President/CEO of ZTBL Muhammad Zaka Ashraf also witnessed the signing ceremony.
The objective of the first agreement with M/s Finetech Japan Limited was to increase crop yields through soil improvement with new agricultural methods, application of organic corrosion by natural minerals and enzyme microbe. Terms and conditions of the MOU were that M/s Finetech would conduct basic research/test and trial through Government Research Institutions for its certification/ suitability to introduce the technology.
M/s Finetech Japan Ltd will launch awareness campaign and demonstrate the new technology/machinery/equipment to the farmers at their own cost and expense. The ZTBL will arrange agricultural farms in its Model Villages to conduct test, trial and demonstrate the technology.
M/s Finetech Japan Ltd will bring the organic matter for demonstration purpose and application in the soil at their cost and expense. On successful testing of the new technology/issuance of authorisation from related department/organisation, the product would be marketed through Kissan Support Services Pvt Ltd as sole distributor agent of the supplier.
The terms and conditions of marketing will be mutually decided by both the organisations. M/s Finetech will provide a certificate of safety ensuring that no disease out break will occur through the application of the products. After fulfilment of all necessary requirements ZTBL will provide credit facilities to the farmers for purchase of the product.
The objective of second MoU would be that M/s Water Net Invention Ltd will launch awareness campaign and demonstrate the new technology/ machinery/ equipment initially at Model villages to the farmers at their own cost and expanse. The company will ensure availability of spare part necessary for replacement and after sale services at appropriate locations.
The farmers willing to use the equipment will be enlisted and after completion of necessary requirements will get the equipment either on cash/credit basis subject to eligibility. Speaking on the occasion, President ZTBL Muhammad Ashraf appreciated the Japanese companies for supporting Pakistan through these MoUs for boosting the agriculture sector in Pakistan. He expressed the hope that the agreements would be a long way in promotion of agriculture sector besides benefiting the farmers.