ZTBL to Introduce Alternate Agri Energy Technology

By Tahira Jamil on June 10, 2010

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Zarai Taraqiati Bank Ltd (ZTBL) inked an agreement with Chinese firm Ms Xi’an Hong Yuan Equipment aiming at to introduce alternate energy technology for agriculture development. The objective of the MOU is to introduce alternate energy to facilitate the farmers with alternate source of energy.

According to the terms and conditions the company will bring equipments for demonstration purpose at their own cost and expense. They will setup demonstration of their equipments to introduce new technologies and make these available for the farming sector. On successful demonstration the product will be marketed through Kisan Support Services as sole distributing while marketing will be mutually decided by both the parties. The bank will provide credit facility.

Speaking on the occasion, the President ZTBL Zaka Ashraf appreciated the Chinese firm for supporting Pakistan through agreement for boosting agriculture sector in Pakistan. He expressed the hope that agreements would go a long way in promotion of agriculture in country besides benefiting farmers. He said President Asif Ali Zardari has assigned the task to ZTBL to explore potential of investment to promote alternate energy that would help the farmers to reduce their production cost and hence to increase their production yield per acre and their income, said Ashraf.

He furtheed that the solar energy was not only cheap but also environment friendly and it would greatly help in agriculture development of the country through introduction of latest technology at affordable prices. We were keen to take benefits of the Chinese experience and various initiatives were being taken with the help of China to make the cheap technology available for our farmers.

He said that the President of Pakistan considered the alternate energy as vital need of the hour and ZTBL has specifically been tasked to initiate and encourage innovative technology in our farms. He thanked China and its firm for collaboration for the development of agriculture sector in Pakistan.

Huang Minzhu thanked the good will gesture and hospitality extended by the bank to the delegation and hoped that we two organization will work jointly for solving the energy crisis faced by the farmers’ community.