Mr. Arif Nadeem and Mr. Kazim Saeed shared the latest progress, led by Pakistan Agricultural Coalition, in launching the warehouse receipts regime in Pakistan to Dr. Abdul Hafeez Shaikh, Advisor to Prime Minister on Finance, Revenue and Economic Affairs in Islamabad.
The meeting was also attended by Chairman, Securities and Exchange Commission of Pakistan (SECP) Governor, State Bank of Pakistan, Acting President, Zarai Taraqiati Bank Limited (ZTBL), Secretary, Agriculture, Punjab and Jahangir Khan Tareen. Dr. Shaikh has directed SECP to notify the final draft of proposed Collateral Management Regulations within the next few weeks to facilitate the launch of warehouse receipts financing regime. Once launched, the warehouse receipts financing regime will help reduce high post-harvest losses (~20%), preserve the quality of agri-commodities for export, and increase farmers’ access to formal credit. For more details, read the full story here.