Nestle partners with PMYBL

LAHORE: Nestle has partnered with the Prime Minister’s Youth Business Loan (PMYBL) program to generate employment for Nestle vendors, a statement said.
The MoU was signed between Nestle Managing Director Magdi Batato and NBP President Syed Ahmed Iqbal Ashraf.
According to a recent United Nations Development Programme (UNDP) report, the population of Pakistan is growing at two percent every year and agriculture is playing a crucial role in bearing the brunt of such an enormous population.
More than half of the population of Pakistan i.e. 65 percent lives in rural areas and over 46 percent of all employment is delivered by the agriculture sector.
The collaboration will assist the PMYBL scheme for generating opportunities of self-employment to vendors of Nestle who have a good credit history and sound credibility.
The focus in the first phase of the project will be on dairy farmers between the ages of 21 and 45 who can apply for a loan from NBP to develop new or grow existing businesses.
Nestle will assist the dairy farmers by providing them training to maximise output, assure quality and optimise productivity in accordance with the highest standards. The company hopes to expand the facility to other vendors in the future.