Islamabad: (PR&P PARC) Pakistan Agricultural Research Council (PARC) and The Bank of Punjab (BoP) have entered into a Memorandum of Understanding (MoU) with the aim of boosting agricultural productivity and sustainability in Pakistan. Under this agreement, BoP will provide financial support for research activities that are mutually agreed upon and driven by demand, with the goal of promoting the welfare of the farming community and ensuring sustainable food security. In an initial step, BoP will finance the specific needs of the potato-growing community, focusing on the production of disease-free seeds for potato growers in the Punjab region. This financial backing from BoP aligns with the broader objective of fostering growth and green sustainability throughout the country. Additionally, both PARC and BoP have expressed their commitment to engaging the youth in the agricultural sector through their participation in various agriculture trades training programs under the Prime Minister's youth loan scheme.

During the event, Dr. Ghulam Muhammad Ali, Chairman of the Pakistan Agricultural Research Council (PARC), highlighted the critical role of agricultural research in attaining economic stability and promoting rural development. Dr. Ali emphasized the paramount significance of allocating resources to expand agricultural research activities, as it drives product innovation, strengthens food security, and creates opportunities for exports. Such investments are instrumental in ensuring the long-term prosperity of the nation and the well-being of rural communities by facilitating sustainable agricultural practices and advancements. Chairman Dr. Ali expressed his profound appreciation for the visionary approach presented by BoP and assured the bank of wholehearted cooperation in future endeavors.

President of the Bank of Punjab (BoP) and other officials conveyed their gratitude for the endeavors undertaken by PARC in benefitting the farming community. BoP acknowledges the significance of agricultural development as a source of optimism and aims to offer financial assistance to further strengthen the sector. BoP has also expressed a keen interest in exploring the diverse initiatives implemented by PARC and, as a result, has requested training opportunities for individuals who have obtained loans from the bank in various agricultural fields. Additionally, BoP has formed a dedicated team of credit officers with specialized knowledge to collaborate closely with farmers, establishing robust relationships and facilitating effective communication to ensure the smooth functioning of agricultural activities.