Corporate Sector Investing in Agriculture
Karachi: The corporate and financial sector of Pakistan are investing to develop the agriculture sector. This view emerged at the launch of The State of Pakistan’s Agriculture 2024 report by…
Fatima Fertilizer signs agreement with Mastercard to digitize farm input payments in agriculture
Dubai: Fatima Fertilizer, Pakistan’s leading fertilizer manufacturing company, and Mastercard, a global technology company in the payments industry, have signed an agreement aimed at modernizing Pakistan’s agricultural ecosystem by ensuring…
Agriculture financing hits record Rs1.78 trillion in FY23 amid SBP efforts and PM’s Kissan Package
The financial institutions disbursed Rs. 1,776 billion under agriculture financing during FY23 and achieved 97.6% of the agriculture credit target of Rs. 1,819 billion set by State Bank of Pakistan…
Government sets 3.5 percent GDP growth target for FY24
The government has approved a Gross Domestic Product (GDP) growth target of an estimated 3.5 percent for the 2023-24 financial year (FY24), according to the Annual Development Plan for the…
Saudi Fund for Development contributes $240 million to support Pakistan’s energy transition via Mohmand Multipurpose Dam project
Islamabad: The Saudi Fund for Development (SFD) has signed a US$240 million loan agreement to support Pakistan’s Mohmand Multipurpose Dam Project, a major hydropower complex that will contribute to Pakistan’s…
Corporates and financial houses focus on agriculture: PAC agri conference resolutions
Karachi: Agriculture is now center stage as the sector that can help salvage the economy by wiping out Pakistan’s trade deficit, said former Governor State Bank Syed Salim Raza. Leading…
FTO orders probe against Millat Tractors Limited for alleged tax fraud worth 14.88 billion
ISLAMABAD: Federal Tax Ombudsman (FTO) ordered Chief Commissioner Inland Revenue, Lahore to make a detailed inquiry into allegation of Sales Tax Fraud by Millat Tractors Limited (MTL). The Director General…
SBP sets agriculture credit disbursement target of Rs1.8 trillion for FY23
State Bank of Pakistan (SBP) has assigned annual agriculture credit disbursement target of Rs1,800 billion to the financial institutions for FY23 to cater to the agriculture credit demand in the…
Rupee 9.5 Trillion balanced budget focusing Agriculture announced
ISLAMABAD: Federal Finance Minister, Miftah Ismail on Friday announced the federal budget for Financial year 2022-23 with a total out lay of Rupees 9.5 Trillion. The maiden budget by newly…
Rabi 2021-22 farmer convention for wheat cultivation
Fatima Fertilizer Company recently organized a farmer convention in collaboration with the Federal Ministry of Food Security, Punjab Agriculture Department, and PirMeher Ali Shah Arid Agriculture University, Rawalpindi to mark…
Agriculture Credit Disbursement Remains Resilient Despite Challenges Posed By COVID-19
Credit disbursement to agriculture sector increased to Rs1,366 billion in FY21, witnessing a growth of 12% over FY20, despite the ongoing challenges posed by Covid-19 pandemic and climate change. The…
Finance reviews framework to facilitate the farmers through Warehouse Receipt Financing
ISLAMABAD: Adviser to Prime Minister on Finance, Revenue and Economic Affairs, Dr. Abdul Hafeez Shaikh, chaired a meeting to discuss the framework to facilitate the farmers through Warehouse Receipt Financing…
State Bank of Pakistan issues three Shariah compliant refinance schemes
KARACHI: State Bank of Pakistan has issued three Shariah Compliant Refinance Schemes that are expected to provide level playing field to the Islamic banking industry. Currently, SBP offers various subsidized…
Pak-China to prepare Gwadar for future investment
ISLAMABAD: The Chinese Ambassador to Pakistan Yao Jing called on Minister for Planning, Development & Reform Makhdum Khusro Bakhtyar here on Wednesday. Matters of mutual interest including progress on China…
‘Harnessing technology platforms is the way forward for enhancing agricultural productivity’
KARACHI: “I would urge the stakeholders including banks, federal and provincial governments to harness technology platforms for enhancing agricultural productivity”, said Tariq Bajwa, Governor State Bank of Pakistan while presiding…
DRIP irrigation promise massive potential to save water
LAHORE: Nestlé Waters Senior Vice President and Head of Technical, Peter Hagmann, inaugurated a site near Sheikhupura under Nestlé Pakistan’s Agricultural Efficiency Project. The project has the potential to help…
Ministry discussed proposal to do away with GIDC on fertilizers
ISLAMABAD: The consultative meeting of the Ministry of Planning and Development took up a proposal to do away with Gas Infrastructure Development Cess (GIDC) on fertilizers especially urea, and to…
Minnesota based Cargill announced $200 million investment in Pakistan’s agriculture
ISLAMABAD: Minnesota based Cargill Corporation has announced plans to invest more than $200 million in the next three-to-five years in Pakistan betting on rising agriculture and food demand in the…
NBP, United Insurance sign deal to support agriculture
KARACHI: National Bank of Pakistan and United Insurance Company (UIC) have entered a deal to support the agriculture sector of the country. According to the deal, the United Insurance Company…