Latest news with #EngroFertilizers
Business Recorder
3 days ago
- Business
- Business Recorder
Engro Fertilizers, Bank Alfalah to launch Rs250m financing for farmers
KARACHI: Engro Fertilizers and Bank Alfalah Limited has announced a strategic partnership to launch Rs 250 million financing for farmers across Pakistan aimed at empowering farmers across the country through enhanced lending facilities. This collaboration will extend financing of up to Rs 1 million to farmers registered through Engro Markaz outlets and UgAi - the first integrated agricultural e-commerce platform for Pakistan. The signing ceremony took place at Bank Alfalah's Head Office in Karachi and was attended by senior leadership from both the organizations, including Ali Rathore, CEO of Engro Fertilizers; Atif Bajwa, President and CEO of Bank Alfalah Limited; Atif Mohammad Ali, Vice President of Marketing at Engro Fertilizers; along with other senior executives. The pilot initiative will be launched with a total funding allocation of Rs 250 million (comprising both secured and unsecured components), offering average loan amounts of approximately Rs 0.6 million to 300–350 farmers. With an estimated reach of up to 2,000 beneficiaries, the programme marks a critical step in forging a direct value chain between the fertilizer provider, the financing institution, and the end-user farmer, ensuring resources flow efficiently from source to soil with a robust value-chain. Currently, the program will be accessible through four Engro Markaz locations across Pakistan: Sahiwal, Sargodha, Bahawalpur, and Muridke. The project is designed to enhance financial access for farmers, providing them with clean and collateral-based lending solutions tailored to their needs. These credit facilities offer subsidized interest rates up to 4.5% lower than the market rates, enabling farmers to purchase high-quality Engro fertilizer products, directly contributing to improved crop yields, and a significant increase in their overall income and livelihood. The collaboration also features for digitization of payments and implementation of a closed loop spending solution via P2M (Person-to-Merchant) transaction enablement. On this development, Ali Rathore, CEO of Engro Fertilizers, has said that Engro Fertilizers is remain committed to supporting Pakistani farmers, who play a vital role in sustaining our country's economy. He said that his collaboration with Bank Alfalah is a meaningful step toward improving farmers' access to financial resources, enabling them to invest in quality inputs, enhance productivity, and work toward a more secure future. 'We hope this initiative contributes to the broader goal of promoting sustainable agriculture and strengthening the resilience of farming community,' he concluded. Copyright Business Recorder, 2025
Arab News
17-07-2025
- Business
- Arab News
Fertilizer sector fuels Pakistan stock market rally as benchmark index hits record high
ISLAMABAD: Pakistan's main stock index surged to a new record on Thursday, closing above the 138,000 mark for the first time, driven by strong institutional inflows and a sharp rally in fertilizer and blue-chip stocks, according to analysts and market data. The benchmark KSE-100 index closed at 138,665.49 points, gaining 2,285.53 points or 1.68 percent from the previous close of 136,379.96, a bullish move that traders said reflected investor optimism ahead of earnings season and growing expectations of a credit rating upgrade. Fertilizer companies led the rally, with Fauji Fertilizer Company Limited (FFC) and Engro Fertilizers Limited (EFERT) together adding 563 points to the index. Other top contributors included United Bank Limited (UBL), Systems Limited (SYS), Engro Holdings (ENGROH), and Hub Power Company Limited (HUBC), which added another 763 points collectively, brokerage firm Topline Securities said in its daily report. 'This rally was driven by heavy institutional flows, with local investors stepping in to scoop up value,' Topline said. 'With sentiment back in high gear, today's bullish close sets an upbeat tone heading into the heart of earnings season.' Investor activity remained high with 778 million shares traded, while the total value of trades stood at Rs39.95 billion ($140.2 million). Pakistan International Bulk Terminal (PIBTL) led volumes, with 82.6 million shares exchanged during the session. Ahsan Mehanti, CEO of Arif Habib Commodities, said investor confidence was boosted by anticipated strong corporate earnings, attractive dividend expectations and government engagement with Moody's over a potential rating upgrade. 'Government affirmation over talks with industrials on budgetary measures, and the finance minister's presentation to Moody's of compelling evidence for a ratings improvement played a catalytic role in today's close,' Mehanti said.
