LAHORE : A consortium of around 21 banks would arrange financing of over Rs204 billion out of Rs205 billion for the Punjab government to procure 4 million tons wheat in the province. The Bank of Punjab will lead the consortium.This said Naeemuddin Khan, President The Bank of Punjab Addressing the audience in a ceremony arranged by the BOP at Royal Palm Club in Lahore on Tuesday which was attended by the officials of Punjab Food Department as well as senior executives of other banks.
This year, the Punjab Food Department has set a target of procuring of 4 million metric tons of wheat in the province while the Bank of Punjab has been assigned to lead for arranging finance for the purpose. , , recapped the gleaming role of BOP in arranging financing for wheat procurement on behalf of Government of the Punjab. He said that this year out of total financing requirement of Rs205 billion, a sum of Rs132.8b will be arranged by five leading banks whereas Rs71.3 billion will be arranged through BOP-lead consortium including Askari Commercial Bank, Bank Alfalah, First Women Bank, Habib Metropolitan bank, KASB Bank, Faysal Bank, Meezan Bank, Bank Albaraka, Dubai Islamic Bank, Soneri Bank, Bank Islami, Bank Al Habib, Habib Metro, Dawood Islamic Bank and My Bank, which is Rs20 billion higher than the last year.
He pledged that BOP through its country wide network of 273 branches and fully trained staff is determined to provide full support to Food Department, Government of the Punjab to make the campaign for procurement of wheat crop in the province a success.
This year, the Punjab Food Department has set a target of procuring of 4 million metric tons of wheat in the province while the Bank of Punjab has been assigned to lead for arranging finance for the purpose. , , recapped the gleaming role of BOP in arranging financing for wheat procurement on behalf of Government of the Punjab. He said that this year out of total financing requirement of Rs205 billion, a sum of Rs132.8b will be arranged by five leading banks whereas Rs71.3 billion will be arranged through BOP-lead consortium including Askari Commercial Bank, Bank Alfalah, First Women Bank, Habib Metropolitan bank, KASB Bank, Faysal Bank, Meezan Bank, Bank Albaraka, Dubai Islamic Bank, Soneri Bank, Bank Islami, Bank Al Habib, Habib Metro, Dawood Islamic Bank and My Bank, which is Rs20 billion higher than the last year.
He pledged that BOP through its country wide network of 273 branches and fully trained staff is determined to provide full support to Food Department, Government of the Punjab to make the campaign for procurement of wheat crop in the province a success.
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