UBL, Shahzad Trade Link to Promote Mechanization of Agriculture Farms in Pakistan

United Bank Limited (UBL) and Shahzad Trade Link (STL) have signed an agreement to promote the mechanization of agricultural farms in Pakistan. Both entities have agreed to ensure the availability of Belarus Tractors to the farmers through a subsidized financing rate and quick delivery. The agreement focuses on joint sales promotion to encourage small and medium-sized landholders to adopt farm mechanization solutions. Under the Farm Mechanization scheme, UBL and STL will collaborate to provide direct agricultural loans at a flat markup rate of 9.5 percent, with repayment spread over a 5-year tenure. The partnership between the two entities will help promote financial inclusion and boost farmer-economics in the country. The signing ceremony, attended by Abdul Aleem Qureshi, Group Executive, Branch Banking, and Shahzad Riaz – Proprietor, STL, along with other senior executives from both organizations, was held at the UBL Head Office, Karachi