LAHORE: The Bank of Punjab and Millat Tractors Limited (MTL) have signed an MOU for provision of fast track processing and delivery of tractors and farm machinery to qualifying applicants at subsidized markup rate under Prime Minister’s Kamyab Jawan – Youth Entrepreneurship Scheme.

This ceremony was held at The Bank of Punjab Head Office in Gulberg Lahore, on Wednesday. Usman Dar – Special Assistant to Prime Minister (SAPM) on Youth Affairs was the chief guest of the ceremony. Zafar Masud – President & CEO BOP and Asif Riaz – Group Head Retail and Priority Sectors Lending represented BOP while Millat Tractors Limited was represented by Sikandar M Khan – Chairman Millat Group, S.M. Irfan Aqueel – CEO and Azhar Noor General Manager Marketing.

Speaking on the occasion Zafar Masud said that: “BOP is currently the Top Performing Bank with a total disbursement of more than Rs 2.4 billion under Kamyab Jawan – Youth Entrepreneurship Scheme, whereas MTL is Pakistan’s Leading Tractors and Farm machinery manufacturer with market share of over 60 percent. Partnering with Millat Tractors Limited is another milestone of becoming the first bank in Industry to partner with a Tractor and Farm Machinery Manufacturer for addressing the supply chain gaps in this sector. He also added that BOP aims to lease 5,000 tractors under PMKJ YES”.

S.M. Aqueel, speaking on the occasion assured Fast Track delivery of these Tractors & Farm Machinery and also shared MTLs marketing and farmer’s awareness campaign details. BOP and MTL will also conduct an awareness program for Operators and Mechanics.

Usman Dar appreciated the efforts of both the organizations and added that this joint venture will add a lot of value to the future of the country.—PR

Copyright Business Recorder, 2021

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