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ISLAMABAD, Mar 19 (APP): The Fauji Fertilizer Company (FFC) has partnered with four leading banks to provide clean financing of up to Rs 500,000 for farmers registered with its Sona Centers, ensuring greater financial inclusion and agricultural growth.
The FFC in this regard signed memorandums of understanding (MoUs) with Bank of Punjab (BoP), Bank Alfalah, Askari Bank Limited and Faysal Bank here at a local hotel on Wednesday.
The MoUs signing ceremony was attended by FFC Board Chairman Lt Gen (retd) Anwar Ali Hyder, FFC Managing Director Jahangir Piracha, BoP President Zafar Masud, Bank Alfalah President Atif Aslam Bajwa, Askari Bank President Zia Ijaz and Head of Commercial Banking at Faysal Bank Altaf Hussain Saqib, an FFC news release said.
The initiative echoed the importance of FFC’s collaboration with financial institutions to extend financial support to the backbone of Pakistan’s economy – the farmers.
The FFC reaffirmed its commitment to bridging the gap between financial institutions and the agricultural sector, making credit facilities more accessible and farmer-friendly.
“Under this agreement, farmers will gain access to hassle-free credit, allowing them to invest in quality inputs and improve their agricultural outputs,” the news release said.
The collaboration, it added,”marks a milestone in agricultural finance, reinforcing the FFC’s commitment to farmer empowerment, financial inclusion, and sustainable agricultural development”.