SBP sets Rs.500bn as agriculture credit disbursement target

The target was disclosed in the annual meeting of the Agricultural Credit Advisory Committee (ACAC) held at Lahore Banking Servies Corporation (BSC) of the State Bank of Pakistan (SBP) Lahore on Saturday.

The meeting was presided over by SBP Governor Ashraf Mahmood Wathra. Speaking on the occasion, Governor SBP said that agricultural sector is an essential component accounting for around 20 per cent of Gross Domestic Product (GDP) and employs nearly half of the labour force.

Ashraf Mahmood Wathra informed that during the last fiscal year (13-14) the agriculture disbursement credit target was set at Rs. 350 billion which later revised to Rs380 billion and acorrding to provisional data,Rs. 389 billion had been disbursed by June 30, 2014.