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Government to spend Rs.14 billion annually to revive economy through agri sector.

ISLAMABAD, March 08, 2011 (Frontier Star): Federal Government will spend Rs.14 billion annually to revive the economy through agriculture led growth and development of the sector, said Zarai Taraqqiati Bank Limited (ZTBL), President Muhammad Zaka Ashraf. He said that on the directives of the PPP Government ZTBL has been disbursing loan on easy terms focusing specially the development of small farmers as reflected by its Benazir Tractor Scheme, said a statement of the Bank issued here on Monday. Pakistan, he said is an agricultural country and it is vital to develop the agriculture sector for the overall progress of the country. The ZTBL has always taken a lead to take steps for the welfare and development of farming community and now this Federal Government initiative earmarking Rs.14 billion will help to facilitate the small farmers and increase in their income through significant increase in yield per acre. The Peoples Government has always come forward to provide solutions to the farmers problems and to meet the food security challenges through adoption of latest technology, said Zaka Ashraf. He further said, that under Pak-China friendship various initiatives have been taken for the introduction and development of solar energy, LED lights, modern technology and farm practices, which will not only help the farmers to operate their tube wells and save rising electricity cost but also to adopt innovative technology for rapid agriculture growth and these will be implemented soon. The Progress of the country is dependant on economic development and this is achievable largely through agriculture development and ZTBL has been focusing to finance entire value added chain. The good governance and financial management coupled with team efforts has raised the Banks deposit base from Rs. 1 billion to Rs. 9 billion which has not only improved financial health of the Bank but also to enable it channelise more funds for finance starved agriculture sector, said Banks Chief. President ZTBL said, The Bank is not only financing the agricultural sector but also promoting sports activities and it is worth while to mention that the national women cricket team which won the Asian games has 9 playing members of ZTBL Cricket Team which is an honour for the Bank. He said, it is a moral duty of every Pakistani to play ones vital role for the progress of the country and the nation, so that we could register as an enlightened people in the comity of nations. The Agricultural sector is lacking in research and planning for which every effort is being made at the National and organization level to focus on agriculture research to fetch benefits for productivity enhancement and farmers uplift.

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Publication:The Frontier Star (Northwest Frontier Province, Pakistan)
Date:Mar 8, 2011
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