Credit to farm sector up 11pc in July-April
improved their lending to agriculture sector but remained
far behind the target during the first ten months of the
current fiscal year.
Despite strong agriculture output in this season the credit
flows remained restricted to just Rs174.8 billion during
July-April, 2008-09, against Rs250 billion target fixed for
the current year. Last year, the credit to agriculture
sector exceeded by Rs12 billion from its original target of
Rs200 billion. The State Bank set an increased target of
Rs250 billion or 25 per cent higher than the last year.
The State Bank reported on Wednesday that the disbursement
of credit to the agriculture sector by commercial and
specialised banks increased by 10.92 per cent to Rs174.8
billion during the first ten months of the current fiscal
Agricultural credit disbursement, in absolute terms, rose by
over Rs17.21 billion in July-April, 2009, when compared with
disbursement of Rs157.566 billion during the same period of
the last year.
Overall credit disbursements by five major commercial banks,
including Allied Bank, Habib Bank, MCB Bank, National Bank
of Pakistan and United Bank Ltd stood at Rs86.552 billion
during the period under review compared with Rs74.328
billion same period last fiscal year, depicting an increase
of over Rs12.22 billion or 16.45 per cent.
Zarai Taraqiati Bank Limited, the largest specialised bank,
has disbursed Rs52.505 billion during the ten months up
14.71 per cent when compared with Rs45.773 billion of the
corresponding period of last year.
The disbursement by Punjab Provincial Co-operative Bank
stood at Rs3.610 billion compared with Rs3.983 billion.
Besides, 14 domestic private banks also loaned a combined
Rs32.111 billion compared with Rs33.482 billion disbursed in
July-April, 2008 period.
Courtesy: The DAWN