Deputy Governor State Bank of Pakistan (SBP) Salim Ullah has said that the agricultural sector has a key role in the economic development of the country and all possible measures are being taken to develop it on modern lines for food security and economic uplift of the farming community.
He expressed these views during a meeting with University of Agriculture Faisalabad Vice Chancellor of Prof. Dr. Iqrar Ahmad Khan. State Bank Executive Director Syed Samar Husnain, Chief Manager SBP Waqas Kashif Bajwa, Additional Director Faisal Ashfaq, Additional Director Dr. Muhammad Saleem, Principal Public Relations Officer Dr. Muhammad Jalal Arif and others attended the meeting.
Deputy Governor SBP Salim Ullah said that they are enabling a regulatory environment, developing market infrastructure, promoting financial inclusion through branchless banking innovations and financial literacy.
Agriculture sector is the mainstay of Pakistan’s economy, it is the most important source for employment & income generation for the majority of rural population, which generates nearly one fifth of the total GDP, he added.
Faisalabad is a business hub due to industrial, business and agricultural activities. The State Bank of Pakistan is providing all possible resources to nurture innovative business thinking. Bringing modern agricultural trends and research to the doorsteps of farmers is the need of the hour. He believes UAF has a unique position and role in providing manpower and solving the problems of the farming community.
Vice Chancellor UAF Dr. Iqrar Ahmad Khan said that UAF wheat enhancement campaign is in full swing in six divisions of the province in which 33,000 students of the university are visiting door to door.
He said that campaign and outreach activities play an important role in transferring the latest research and recommendations among the farming community.
Acknowledging the wheat campaign last year, it has been possible to increase production per acre in various divisions including Faisalabad, Sargodha and others. This year the target has been set to 44 mounds from 38 mounds per acre.
He said that in the early years of Faisalabad, this belt was considered suitable for cotton, but with the passage of time, there has been a change in the cropping pattern and now cotton has shifted to southern Punjab.
He said that the UAF has introduced high-yielding varieties of wheat, soybeans and sugarcane.
The State Bank delegation also visited the National Incubation Center and briefed about the start-up companies.
Project Director Zeeshan Sheikh and Program Manager Shahwar Khan informed about the ongoing and completed projects under the NIC.