Karachi : UBL and Shahzad Trade Link (STL) have signed an agreement to promote the mechanization of agriculture farms in Pakistan. Both entities have agreed to ensure the availability of Belarus Tractors to the farmers through subsidized financing rate and quick delivery. Â Â The agreement focuses on joint sales promotion to encourage small and medium sized land holders to adopt farm mechanization solutions.
UBL and Shahzad Trade Link (STL) recently signed an agreement to promote the mechanization of agriculture farms in Pakistan. Seen in the picture are Mr. Abdul Aleem Qureshi, Group Executive, Branch Banking (sitting – second left) and Mr. Shahzad Riaz – Proprietor, STL (sitting – second right) along with other senior executives from both organizations.
Under the Farm Mechanization scheme, UBL and STL will collaborate to provide direct agricultural loans at flat markup rate of 9.5%, 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.
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The signing ceremony, attended by Mr. Abdul Aleem Qureshi, Group Executive, Branch Banking and Mr. Shahzad Riaz – Proprietor, STL along with other senior executives from both organizations, was held at the UBL Head Office, Karachi.
