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ADBP clarifies news about loan negotiation for rice cultivators

RECORDER REPORT

ISLAMABAD: Agriculture Development Bank of Pakistan would extend loaning facilities to growers for buying rice transplanting machines to enhance the rice production of the country.

A spokesman of the bank stated this here on Monday, clarifying a news item appearing in a section of press reporting that "ADBP loan being negotiated for buying rice cultivators".

The spokesman added that according to reliable information Heavy Mechanical Complex is in the process of producing rice transplanting machines in collaboration with the Farm Machinery Institute (FMI) of Pakistan Agriculture Research Council (PARC).

These machines are still in the process of test and trail and as soon as these locally developed machines are found operationally and commercially viable at the fields, ADBP would extend loaning facilities to the growers for enhancing their yields.

At present ADBP is providing all possible assistance to the local farmers in adoption of latest and viable agricultural technology to make the country self-sufficient in food production, the spokesman added.