KARACHI: National Bank of Pakistan (NBP) launched a new low markup rate agricultural loan programme to support the farming industry. With this initiative, farmers can increase their crop yield by availing agriculture loans with swift processing.

In addition, NBP is offering special discounts on the markup rate for women to encourage female participation in the farming industry. The loan can be used to finance a range of agricultural needs, including warehouse, solar tube-well, fisheries, new tractors, agriculture baler, seeds, soil, and pesticides etc.

“We are proud to launch this new programme to support the farming community in Pakistan,” said Rehmat Ali Hasnie, President and CEO (A) of the National Bank of Pakistan. “Inclusive Development Group of NBP is dedicated for facilitating the farming community in adopting modern agricultural technologies to increase their farm efficiency, productivity and profitability. NBP has wide range of agricultural financing products fulfilling the farmer’s needs.”

“Our goal is to uplift the agricultural sector of Pakistan by providing easy access to financing and other resources. We strongly believe that the growth of this sector is closely linked with the growth of Pakistan,” said Ms Naushaba Shahzad, Group Head (A), Inclusive Development Group, NBP.

The agricultural sector is the backbone of Pakistan’s economy, and NBP has launched numerous projects to help boost this vital industry.

In order to promote cutting-edge agricultural technology, like as High Efficiency Irrigation Systems, NBP signed MoUs with Agriculture Universities, Tractors & Implements Businesses, Punjab & Sindh Agriculture Departments.

NBP has a long history of supporting the farming industry in Pakistan and this new programme builds on the bank’s commitment to providing innovative financial solutions to its customers. Farmers interested in applying for agricultural loan can contact their nearest NBP branch to learn more about the programme.

Copyright Business Recorder, 2023