LAHORE: Installation of warehousing facility by the National Rural Support Programme (NRSP) through the State Bank of Pakistan’s (SBP) innovation challenge fund and strategic investments from Karandaaz Pakistan is helping farmers in Hafizabad to experience growth and prosperity.
Once limited by post-harvest warehousing and financial challenges, smallholding farmers are now experiencing unprecedented growth. By connecting with NRSP Agriculture Processing Company (APC), their lands and lives are being transformed.
Due to Karandaaz’s strategic investment, the warehousing capacity of NRSP in Hafizabad increased by nearly 400 percent, from 5,250 metric tonnes to 21,500 metric tonnes. Furthermore, a rice processing facility was constructed with the capacity to process 40,000 tonnes of paddy annually. This has substantially increased APC’s revenue, which is primarily derived from the export of rice.
The APC was awarded the title of “best rice processor and warehouse operator” by the Islamabad Chamber of Commerce and Industry in 2022.
“As an impact investor, we specialize in identifying and addressing market gaps that are often overlooked. Once a sector shows progress and success, other investors can replicate the investment plan,” said Karandaaz CEO Waqas ul Hasan.
NRSP APC’s initiatives in Hafizabad have significantly improved farmers’ earnings and social lives. The warehousing facility and financial inclusion initiatives enable farmers to sell paddy at market competitive prices without hidden deductions.
“Historically, we have sold our produce to intermediaries, which have led to financial losses. These intermediaries frequently delayed payments and inaccurately measured our crops, which impeded our ability to prepare for the subsequent crop. The facilitation provided by NRSP APC in Hafizabad ensures that we receive accurate measurements and timely payments,” said rice cultivator Rida Bano.
“We approached Karandaaz to help us go beyond paddy processing to rice marketing and export. This partnership established a state-of-the-art facility, aiding small farmers and creating job opportunities,” said Rashid Bajwa, CEO of NRSP.
Copyright Business Recorder, 2024
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