March 19, 2003	Wednesday	Muharram 15, 1424

KARACHI, March 18: United Bank Ltd would provide banking services to Sweetwater International and Sweetwater Pakistan (Pvt) Ltd (SPPL) for provision of sweet water pumps to the agriculture sector.

Present at the signing ceremony were Amar Zafar Khan, the President of UBL, Edward W. Jackson, the CEO of Sweetwater International, Shahid Waqar Mehmood, Head Commercial Bank, UBL and other team members from UBL. Shamoom Choudhry, GM Financial Services and Ijaz Majeed, Regional head Sindh of SMEDA were also present at the occasion.

Sweetwater is a company manufacturing internally accredited equipment for treatment of saline/sodic water and soils so as to render the same efficacious for agricultural purposes, and through its subsidiary, SPPL plans to expand its sales and distribution throughout Pakistan.

Under this agreement, Sweetwater and SPPL, jointly agree to supply these units in Pakistan to farmers, and UBL has agreed to finance the purchase of these units in most viable financing mode. The financing would be made either by UBL directly or through a syndicate of leasing companies or financial institutions. The parties have also mutually agreed to collaborate together with SMEDA (Small and Medium Enterprise Development Authority) to achieve the success of this project.—APP