BoP offers financing to farmers

LAHORE: Bank of Punjab (BoP) and Haleeb Foods Limited (HFL) signed an agreement on Friday 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 guarantee easily accessible financing for dairy farmers associated with HFL. 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 business.

BoP Chairman Zafar Masud and HFL CEO Syed Mazher Iqbal signed the agreement in the presence of top management from both organizations, dairy farmers from across Punjab and other notables.

Masud said: “The base of the pyramid 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, which will further strengthen government initiatives to empower young people to start their own businesses. “.

HFL CEO Iqbal said: “We are happy to be a part of this higher public interest initiative, which will definitely help the small-scale or unstructured dairy community.”

He encouraged traditional dairy farmers to take advantage of the base of the pyramid financing facility to transform and improve their dairy infrastructure. At present, HFL’s milk collection network was in operation in 11 districts of Punjab with five main locations in Ellahabad, Arifwala.

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