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ADBP launches countrywide loan recovery campaign
ISLAMABAD-The Agricultural Development Bank of Pakistan (ADBP)
has launched a countrywide vigorous recovery campaign to
provide a sound resource base for more lending to the farming
community.
The Bank's recovery drive, in a bid to recover its outstanding
dues at its optimum level is aimed at recycling of more
loanable funds for meeting the credit disbursement target of
Rs. 35 billion for this year including new priority area,
which is achievable only if the current pace of recovery is
accelerated.
Since the Bank's major source of funding is solely dependent
upon its recovery of outstanding dues specially the stuck up
loans, so that the amount so recovered can be relent to the
needy farmers, the bank has therefore been actively pursuing
its recovery campaign, the bank sources said here Thursday.
During the current financial year, the Bank has set the
recovery target at Rs. 39 billion and ADBP has urged its field
functionaries to redouble their efforts to recover the
stuck-up and non-performing loans with missionary zeal to meet
the recovery target and strengthen the financial base of the
institution.tion.
The Bank authorities have advised the farmers to repay their
dues in-time not only to channelize more funds, needed for
meeting the wheat production target of 20 million tons, but
also to avoid any legal and coercive measures by the Bank
authorities for the recovery of the due amount.
December 8, 2001
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