Commerce Desk
Karachi: United Bank Limited (UBL) Rural Bank and Universal Agri Tractor Company (UATC), part of the G.M. Group, have signed a strategic alliance to speed up farm mechanisation and widen access to agricultural financing. The agreement was signed at Governor House Sindh in Karachi on 5 October 2026. Governor Syed Muhammad Nehal Hashmi attended, along with government officials, business leaders and industry stakeholders.
UBL Rural Bank was represented by Abdul Sattar Narejo, Head Rural Bank. UATC was represented by Managing Partner Zain Wahab and owner Wahab GM.
Under the deal, UBL Rural Bank will provide collateral-backed tractor financing to eligible farmers, agricultural entrepreneurs and rural customers. UATC will give an upfront markup subsidy of PKR 100,000 on every financed tractor, reducing customers’ financing burden.
Governor Hashmi said initiatives that improve access to financing and modern machinery fit the government’s wider efforts to support agriculture and rural communities. Speakers said the partnership combines UBL’s agricultural lending expertise with UATC’s tractor manufacturing capability, and that it can raise farm productivity, sustain rural livelihoods and support national food security.
