KARACHI: A Memorandum of Understanding (MOU) has been signed between National Bank of Pakistan (NBP) and Al-Ghazi Tractors Ltd (Al-Ghazi) for collaboration between the two organizations for development and promotion of farm mechanization on a nationwide basis.

The objectives of this MoU include increased possibility of disbursement of institutional credit for tractors, implements i.e. cultivators, disk harrows, rotavators, combine harvesters etc to eligible farmers and service providers, improved capacity building of farmers for adoption of mechanized farming in Pakistan, improved financial literacy of farmers and entrepreneurs with a view to encourage them to avail credit from NBP.

NBP and Al-Ghazi will cooperate to identify and carry out joint marketing activities to support tractor purchases by farmers. Such activities may include joint sales calls to prospective customers and trade show / seminar support and participation.

Copyright Business Recorder, 2021