Agriculture: UBL, STL sign deal to promote mechanisation
KARACHI: UBL and Shahzad Trade Link (STL) have signed an agreement to promote the mechanization of agriculture farms in Pakistan.
The signing ceremony, held in Karachi was attended by Abdul Aleem Qureshi, Group Executive, Branch Banking and Shahzad Riaz Proprietor, STL along with other senior executives from both organizations was held at the UBL Head Office, Karachi.
As pert agreement, both entities have agreed to ensure the availability of Belarus Tractors to the farmers through subsidized financing rate and quick delivery.
The agreement focuses on joint sales promotion to encourage small and medium sized land holders to adopt farm mechanization solutions. Under the Farm Mechanization scheme, UBL and STL will collaborate to provide direct agricultural loans at flat mark-up rate of 9.5 percent, with repayment spread over five years’ tenure.
The partnership between the two entities will help promote the financial inclusion and boost farmer-economics in the country.
Copyright Business Recorder, 2025
Comments
Comments are closed for this article.