Agri-credit disbursement up 9pc

Tuesday, June 23, 2009
By our correspondent (The News International)

KARACHI: Disbursement of credit to the agriculture sector by commercial and specialised banks increased by 9.31 per cent year-on-year to Rs202.1 billion during July-May 2008-09, State Bank of Pakistan (SBP) said on Monday.

Agricultural credit disbursement rose by over Rs17.21bn in 11 months of the current fiscal year when compared with Rs184.89bn disbursed in the same period of the previous year.Overall credit disbursement by five major commercial banks including Allied Bank, Habib Bank, MCB Bank, National Bank and United Bank stood at Rs98.229bn, depicting an increase of 14.77 per cent.

Zarai Taraqiati Bank, the largest specialised bank, disbursed Rs63.2bn in the July-May period while disbursement by Punjab Provincial Co-operative Bank stood at Rs4.018bn. Besides, 14 domestic private banks also loaned a combined Rs36.6bn.

SBP has set an indicative credit disbursement target of Rs250bn for the agriculture sector for the current 2008-09 fiscal year, which is 18 per cent higher than the actual disbursement of Rs212bn in the last fiscal year.

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