Sri Lankan institutions collaborate on special leasing promo for tractors and harvesters
Daily FT: The Commercial Bank of Ceylon PLC has once again announced a new leasing promotion with Browns Agriculture, to empower the country’s farming community to acquire cutting-edge technology and equipment in order to enhance productivity.
The promotion will run till the end of 2023, covering TAFE branded tractors, as well as harvesters from Sumo and Yanmar, which are imported, sold and serviced by Browns Agriculture.
Tractors and harvesters purchased with lease facilities provided by Commercial Bank under this promotion will carry a 1% discount on standard Interest rates and Browns Agriculture will attend to the registration with the Registrar of Motor Vehicles (RMV) or other government entities free of charge, the Bank said.
Additionally, Browns Agriculture will offer free insurance for the first year on selected models of TAFE tractors, and all tractor models purchased will be entitled to four labour-free services.
Meanwhile, Yanmar and Sumo harvesters purchased through this promotion will be provided with three and two free service sessions, respectively.
In support of the objectives of the promotion, Commercial Bank will offer customized leasing packages at attractive special rates, as well as the Bank’s ‘Kanna Varika’ (seasonal payments) option where the leasing packages correspond to the farmers’ income patterns, under which rentals will be serviced only during harvesting periods.
OSL take:
Sri Lanka’s agriculture industry is in need of the latest technical and technological advancements with special focus on mechanization. While the country’s agriculture industry has expanded and developed over the years, there’s still much to be achieved to be on par with international standards. Hence, providing expertise, equipment’s and other requirements of the sector have presented a host of new business/investment opportunities to foreign businesses/investors exploring opportunities in Sri Lanka. The growing demand in Sri Lanka’s agriculture industry, has expanded a demand for equipment and machinery. Foreign businesses/investors could therefore explore the expanding business/investment opportunities in Sri Lanka’s agriculture industry. Looking at the growing business potential in the agriculture industry, foreign businesses could also look at forming partnerships or joint ventures with local businesses engaged in the industry with the aim of further expansion.
| Article Code : | VBS/AT/20231016/Z_3 |