ZTBL urged to adopt prudent lending, innovative banking solutions

ISLAMABAD (PEN) – The Federal Minister for Finance and Revenue, Shaukat Tarin, on Tuesday urged the Zarai Taraqiati Bank (ZTBL) to adopt prudent lending, stringent accounting controls, innovative banking solutions and austerity measures for a long-term turnaround.

He was talking to President ZTBL, Shahbaz Jameel, who called on him, said a statement issued by the Finance Ministry.

The minister said the ongoing COVID-19 pandemic has made it imperative to implement digital transformation in operations for increasing transaction volumes.

He said, ZTBL was a leading agro-financing bank in Pakistan which had been extending loans to poor farmers aimed at boosting agricultural productivity at the grass root level.

The minister directed the management to make concerted efforts to augment the specialized operations of the bank and make it sustainable and dynamic for promoting agro-farming in the country.

The minister affirmed full support and facilitation for smooth working of ZTBL on the occasion.

Earlier, the President ZTBL briefed the minister about the quarterly profit registered by the bank ended on June 30, after a gap of almost four years.

The president acknowledged the guidance of the Advisory Committee, headed by the Finance Minister, which spearheaded the reform process at ZTBL.

He also underscored the importance of measures adopted by the Bank in making its operations sustainable.