HBL launches subsidiary to Boost Agriculture and Food Security in Pakistan

KARACHI – The State Bank of Pakistan has approved ‘HBL Zarai Services Ltd’ as a subsidiary of HBL who’s focus will be to develop the agricultural sector of Pakistan.

Chief Executive Muhammad Aurangzeib stated that HBL is more than capable of taking food security of Pakistan along with its Agricultural sector and boost its development.

HBL informed the public after its development stating that it is a matter of pride and great responsibility and HBL is wholly committed to the development of Pakistan’s agricultural sector under the expert guidance of Agha Khan Development Network (AKDN) and HBL’s mission is aligned with Pakistan’s strategies.

The top priority of HBL will be agricultural financing. In the last fiscal year 2022, HBL’s portfolio was at an all-time high reaching an astonishing Rs 50.6 billion. The esteemed bank invested an enormous amount of Rs 4 billion just for the social uplifting of the country with the Rs 4 billion spread across over 10 years.

Mr. Aurangzeib stated “We are proud to embark on this journey of national development while ensuring to promote green banking portfolios for banking”

HBL Zarai Services is a completely owned subsidiary of HBL who’s sole mission is to enhance the Agricultural output of Pakistan by providing short and long term solutions to both investors and small-scale farmers.

HBL has been working relentlessly to ensure that the backbone of the nation’s economy does not lack as compared to previous years. With Pakistan being a solely Agricultural country, Agronomical outputs should be maximised to ensure Pakistan’s economy pulls itself out of the financial pit.

Climate change may be adopted as the main theme for the SBP vision of 2028. Pakistan stands among the top 10 countries affected by Climate change.