Bank of Punjab (BoP) and Fauji Foods Limited (FFL) signed an agreement on Tuesday to provide easy loans to dairy farmers as part of the Punjab Rozgar Scheme and the extension of the Prime Minister Kamyab Jawan Scheme.
Under the agreement, the base of the pyramid would ensure easily accessible financing for dairy farmers associated with FFL. Farmers would be able to access financing on favorable terms and at the lowest margin rates for the expansion and modernization of their existing dairy businesses. Asif Riaz, director of retail and priority sectors at BoP Group, and FFL CFO Ebad Khalid signed the agreement in the presence of the top management of both organizations, dairy farmers from all over Punjab and other notables.
Speaking on the occasion, Mr. Asif Riaz said: “The BoP will also offer financial assistance under the Prime Minister Kamyab Jawan Scheme of the federal government and the Punjab Rozgar Scheme of the provincial government, as well as under the BOP’s own sources for all agricultural activities, in addition to dairy production, which will help strengthen government initiatives to empower young people to start their own businesses ”.
FFL CFO EbadKhalide, expressing his point of view, said: “We are happy to be a part of this larger public interest initiative, which will definitely help the small-scale or unstructured dairy community.”
He encouraged dairy farmers to take advantage of the base of the pyramid financing facility to transform and improve their dairy infrastructure.