SBP Aims To Empower 500,000 Farmers With Financial Literacy

The State Bank of Pakistan (SBP) Banking Services Corporation (SBP-BSC) has launched the Agriculture Finance Literacy Program (AFLP) through a series of five workshops conducted nationwide aiming to integrate 500,000 farmers in the crop sector, livestock, poultry, and fisheries into the financial ecosystem over the next five years.

This program will significantly contribute to Pakistan’s agricultural growth and sustainability by effectively addressing its primary constraint which is financing requirements.

In conjunction with the program launch, the Financial Inclusion Support Department of SBP BSC has conducted a series of five workshops in major cities, including Karachi, Quetta, Lahore, Rawalpindi, and Peshawar.

The key objectives of the workshops were to sensitize bank officials, who will take forward the literacy program at gross root levels; and to bring the provincial departments on board who have a vast network across the country that can be utilized for this campaign.

These workshops saw active participation from focal persons representing commercial banks and representatives from Provincial Agriculture Extension departments, Livestock Departments, and Fisheries Departments of these regions.

This collaborative endeavor, uniting SBP, SBP BSC, and various stakeholders, underscores our collective commitment to empowering the farming community, advancing financial inclusion, and propelling agricultural growth throughout Pakistan.

This flagship initiative, as recommended by the Agricultural Credit Advisory Committee, seeks to raise awareness among the farming community regarding available financial schemes and government-driven initiatives. AFLP stands out as a pioneering effort, as it unites all major stakeholders, including SBP, commercial banks, and federal, and provincial government departments, to engage with farmers collectively.

AFLP addresses critical facets of agricultural finance, with a primary focus on reaching out to new-to-bank farmers (NTBFs) to broaden the pool of borrowers and promote financial inclusion. It also places a dedicated emphasis on reducing gender as well as regional disparities in agricultural finance by ensuring equitable access to financial resources for farmers across the nation.

  • now they want to give the poor finance money for literacy why did they do this in the first place

  • Almost every government and semi-government department in Pakistan wants to do things other than its own. While their focus should be on the task assigned to them, they want to spread their wings far beyond their mandate. The reasons can be understood by even a layman like me. The result is negligence of their own primary responsibilities. Examples are many. I shall not elaborate.

    SBP failed to do its own job despite hefty perks and privileges for its successive governors and other staff, resulting in Pakistan being on FATF’s radar. The consequences are in front of you.

  • I am a farmer and this initiative is highly appreciated. I want to know more about this financing initiative taken by SBP. Please guide me in this regard. Thanks

  • Get Alerts

    Follow ProPakistani to get latest news and updates.

    ProPakistani Community

    Join the groups below to get latest news and updates.