Pakistan Industrial and Traders Associations Front urges Zarai Taraqiati Bank Ltd to start issuing loans to farmers

Lahore, March 26, 2014 (PPI-OT): Pakistan Industrial and Traders Associations Front (PIAF) on Wednesday urged the Zarai Taraqiati Bank Ltd (ZTBL) to start issuance of loans to the farmers for the sake of growth of the Agriculture sector.

In a statement issued here, the PIAF Chairman Malik Tahir Javaid said that the non-issuance of loans to the farming community had created multiple problems not only for the farmers but for the entire agriculture economy of the country where slow growth is posing a serious threat to our food security.

The prices of agri inputs had already gone up because of increase in GST while the non-issuance of loans by the ZTBL had put the people attached with agriculture in deep troubles.

Tahir Malik said that the business community was unable to understand this anti farmer policy of ZTBL whose duty is to provide credit to the farmers, as they would not be able to prepare their lands for sowing. The farmers felt that there is an unfaithful hand depriving credit to the farmers.

He said that it was very unfortunate that a bank that was established to facilitate the farming community is reluctant to do any favour. Rather the officials were doing the other way round at a time when the present government was putting in its best efforts to put the economy back on rails therefore such impediments should also be removed.

Malik said that due to this policy it will be impossible to plough lakhs of acres of land thus rendering it uncultivated. This will result in severe food shortages for the next year besides unwarranted rise in the prices of grains and will force the government to import wheat at a higher cost in order to meet the food requirement.

He said that the government should press the ZTBL to ensure prompt release of loans to enable them to continue their work with peace of mind.

He also appealed to the Prime Minister of Pakistan, Mian Muhammad Nawaz Sharif and Finance Minister Ishaq Dar to intervene in this matter for the benefit and rights of the poor farmers so that Pakistan’s economy and the agricultural sector can perform its appropriate role to rehabilitate the farmers.

For more information, Contact:
Khalil-ur-Rehman
Pakistan Industrial and Traders Associations Front
110/s Kot Lakhpat Industrial Estate
Lahore, Pakistan
Phone: (92) 42 5123522
Fax: (92) 42 5123522
Email: Info@piaf.pk