The Agribusiness Support Fund (ASF) has approved 40 grants totalling Rs 8 million for different private sector agribusiness enterprises with a focus on reducing poverty in rural areas, especially Northern Areas, says a press release issued on Wednesday.
The grants will support farmers enterprise groups in establishing drying units, nurseries, livestock services, commercial farming of vegetables and milk collection and chilling units.
It is expected that ASF's intervention would lead to a substantial increase income for rural farmers, it said. The ASF was created under the auspices of Rs 4.1 billion ADDP (Agribusiness Development and Diversification Project of Minfal) with support for ADB. The aim of ASF is developing the agribusiness sector in Pakistan and thereby supporting economic growth and employment generation.-PR