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Electric Chakki for Making Masalajaat (Chili, Dhanya, Zeera Etc.)

Spices/condiments are a daily need of households in Pakistan. There is a huge demand for different Masalajat like Chili, Dhanya, Zeera, etc for daily use. The subject scheme is developed to fulfill the daily requirements of these Masalajat in ground form by providing grounding units to needy persons living near the market.

The scheme would help the farmers to have easy access to credit and to facilitate the farmer’s enhancement of Agri. productivity in the country.

Terms & Conditions:

Operational Jurisdiction The scheme will be applicable across the country.
Eligibility Criteria
  1. The creditworthy and reputable rural farmer having good repayment behavior will be considered for such a loan. Moreover, farmers have appropriate self-owned & self-possessed Agri. land to cover the feasibility of the subject scheme is entitled to avail of a loan facility for the said purpose.
  2. A Valid copy of CNIC.
  3. Clear e-CIB report from SBP.
  4. Obligors Risk Rating (ORR) to 4.
Maximum Loan Limit The maximum loan limit under the scheme would be up to Rs. 1.000 million per borrower/party.
Borrower’s Contribution 10% of the loan amount will be deposited by the borrower as self-contribution or invested towards the project.
Collateral The loan would be secured against all types of tangible securities acceptable to the Bank. In case of its non-availability, the parent’s/family member’s security can be accepted as a co-applicant.
Cost of Credit As per Bank’s rules.
Rate of Markup The prevailing rate of markup on development loans would be applicable. However, a 3% rebate would be allowed on timely repayment.
Sanction of Loan Loans under the scheme would be sanctioned by Central Loan Sanctioning Department (CLSD).
Disbursement of Loan After the execution of legal documents loan would be disbursed through Supply Order in the name of the manufacturing Company.
Repayment Schedule The loan would be recovered within 5 years in half-yearly installments with a grace period of six months.
Monitoring Close monitoring would be carried out by the respective MCO & Branch Manager.