Pakistan takes pride in hosting the 2024 Shanghai Cooperation Organization (SCO) summit in Islamabad, where representatives from various member and observer nations have convened.
Today, a prominent delegation from the Republic of Belarus visited the President/CEO of Zarai Taraqiati Bank Limited (ZTBL) at their head office in Islamabad. The delegation comprised Mr. Sergei Stolyarchuk, Chairman of the Bank of Development of Belarus; Mr. Vadim Shagoiko, Deputy Minister of Agriculture and Food; and Mr. Ilya Kanapliou, Trade Counsellor at the Belarusian Embassy in Pakistan. They were warmly welcomed by Mr. Tahir Yaqoob Bhatti, the President/CEO of ZTBL.
During the meeting, the Belarusian delegation shared comprehensive insights into Belarus’s agriculture sector, a vital component of its economy. They emphasized the importance of agriculture and livestock exports, which significantly contribute to the nation’s foreign exchange earnings. The delegation highlighted Belarus’s strengths in agricultural mechanization, heavy machinery production, and livestock development. Notably, Belarus is recognized for its advanced farming practices and innovative machinery, including tractors and other agricultural equipment, which bolster its global trade footprint.
The Belarusian representatives proposed potential collaboration between ZTBL and Belarus, suggesting that Pakistani farmers could benefit from Belarusian agricultural machinery to enhance mechanization and productivity in the local agriculture sector. They also expressed a strong interest in investing in various projects in Pakistan and indicated that they would provide a detailed proposal to ZTBL.
In response, the President/CEO of ZTBL presented an overview of Pakistan’s agriculture sector and emphasized the vital role ZTBL plays in assisting small and subsistence farmers. He highlighted the bank’s recent disbursement of PKR 33 billion in agricultural loans under the Prime Minister Kissan Package, with over PKR 10 billion allocated specifically for farm mechanization. Mr. Bhatti noted ZTBL’s strategic outreach across the country, particularly in underserved and rural areas, through its extensive network of over 500 branches and a dedicated team of Mobile Credit Officers and Branch Managers, who provide financial and advisory services directly to farmers.
Both parties agreed on the importance of enhancing cooperation, particularly in introducing Belarusian agricultural machinery to Pakistani farmers. The President/CEO reaffirmed ZTBL’s commitment to exploring joint ventures with the support of the Ministry of Finance, the Ministry of National Food Security and Research, and the State Bank of Pakistan, with the goal of uplifting small farmers and driving the rural economy forward. The meeting concluded with a mutual commitment to collaborate effectively, leveraging ZTBL’s extensive reach and Belarus’s expertise in agricultural technology, mechanization, and investment in diverse projects across Pakistan.
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