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BoP disburses Rs 3.781 million under Smeda's project
LAHORE (March 26 2003) : An amount of Rs 3.781 million has been disbursed to the farmers by Bank of Punjab (BoP) during the current month under Smeda's project in Gelhan Hathar near Chunian.
It was disclosed by Muhammad Saleem Jan, Managing Director of the Bank of Punjab (BoP) while addressing a meeting of the farmers arranged by the Small and Medium Enterprise Development Authority at village Gelhan Hathar, says a press release issued here on Tuesday.
The meeting was also attended by Hashim Raza, General Manager Smeda-Punjab, Muhammad Javed Muzaffar Khan, Regional Chief BoP, Lahore Region, Muhammad Farooq Abid Tung, SVP of BoP, Mian Sana Khaliq Karimi, District Naib Nazim Kasur, Dr Syed Safdar Jarar, Tehsil Nazim Chunian and Arshad Hussain Hashmi, In-charge Agriculture Credit, Smeda.
Muhammad Saleem Jan said that BoP had joined hands with Smeda to materialise its Support Services for Agriculture Credits (SSAC). The scheme, he said, has proved successful to overcome financial difficulties of the small farmers in the area.
Looking at the success of this scheme, BoP has planned to launch the similar schemes in other villages, he said, adding that about seven "Kissan Dost" loaning schemes were being launched in rural areas of Punjab at a mark-up not more than 9 percent.
The procedures of these schemes are also very easy and simple. He was confident the schemes would help small farmers meet their urgent needs like purchase of tractors, seeds and agricultural equipment.
Hashim Raza, General Manager Smeda-Punjab while giving a presentation on SSAC, said that the country direly needs a mechanism for a secured access of financial institutions to the credit markets to bring about a revolution in agriculture sector.
Keeping in view this need, Smeda has initiated a pilot project in November last to test the hypothesis presented in the SSAC concept paper, he said.
The pilot areas were selected on the basis of extensive village surveys conducted first in Sheikhupura District covering villages Kot Pindidas, Mysin and Burj Attari, he added.
He expressed gratitude to the BoP Management for making a dream of Smeda come true by taking over the SSAC for implementation.
Courtesy Business Recorder
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Pakissan.com; Advisory Point
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