Jul-Dec2013: Issuance of agricultural loans increased by 13.5 percent
ISLAMABAD: Despite of difficulties the increase in disbursement of agricultural loan during the first half of current fiscal year has been witnessed, ARY News reported.
According to State bank of Pakistan (SBP), the banks disbursed Rs 159.3 billion during the Jul-Dec 2013, which is 13.5 per cent higher than the disbursement of Rs 140.3 billion during the corresponding period last year.
The SBP revealed that five major banks as a group disbursed agricultural loans of Rs 85.4 billion or 47.5 per cent of its annual target which ishigher by 12.3 per cent from Rs 76.0 billion during the corresponding period last year.
According to a statement issued by the State Bank of Pakistan (SBP)issued on Tuesday the Banks achieved 44 per cent of their annual indicative targets of Rs 360 billion despite multitude of challenges such as high non performing loans, recovery drive, insufficient bank's infrastructure and overall security and macroeconomic conditions.
Furthermore, amongst specialized banks, Zarai Taraqiati Bank Limited (ZTBL) could achieve only 34 per cent of its target by disbursing Rs 23.7 billion against its annual target of Rs 69.5 billion.