Govt releases Rs301.7b agri credit during first half of FY2016-17

The government has disbursed Rs301.7b agriculture credit during the first half of FY2016-17 through various banks and financial institutions against a target of Rs700b set by the State Bank of Pakistan (SBP).

According to media sources, SBP has advised scheduled banks to provide crop loans to the farmers under the bank’s Revolving Credit Scheme covering both Rabi and Kharif seasons.

Different banks, including Zarai Taraqiati Bank Limited (ZTBL), disbursed credit to the tune of Rs301.7b during the ongoing Rabi season 2016-2017

Out of the total agriculture credit disbursed, Rs142.2b or 47.5pc was disbursed to the farm sector and Rs158.5b or 52.5pc to the non-farm sector. ZTBL disbursed Rs29.2b, five major commercial banks disbursed Rs156.4b, Punjab Provincial Cooperative Bank Limited (PPCBL) Rs4.8b, 15 local private banks 5.7 billion, nine Microfinance Banks (MFBs) Rs42.2b and others Rs7.2b.

During FY2015-16, Rs306.1b or 51.2pc was disbursed to the farm sector and Rs292.2b or 48.8pc to the non-farm sector.

However, during 2015-16, a total amount of Rs515.9b was disbursed out of which Rs274.3b or 53.2pc was disbursed to the farm sector and the non-farm sector received Rs241.6b or 48pc of total disbursement by banks.

Non-farm sector’s share has witnessed an increase during the last couple of years due to the adoption of innovative value chain financing models by banks, especially in livestock/dairy and poultry sectors.

- Advertisement -
- Advertisement -

Must Read

NA gives nod to charged expenditure worth Rs27.9tr

ISLAMABAD: The National Assembly (NA) on Monday approved the charged expenditure of Rs27.9 trillion including servicing of domestic and foreign debt. The charged expenditure...