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ADBP directed to publicise incentive schemes
ISLAMABAD - Finance Minister Shaukat Aziz has directed the
Agricultural Development Bank of Pakistan (ADBP) to properly
publicize lending schemes and incentives offered to the
farming community of the country.
"For larger benefit of the farming community all ADBP offers
and packages should be fully disclosed through electronic and
print media," officials of the Bank said on Wednesday quoting
the minister.
According to the officials of the ADBP, the finance minister
has desired the Bank to emerge as major input provider in the
policy formulation at the top government level regarding
agriculture sector contributing over 25 per cent to the GDP,
engaging about 25 per cent of the labour force and providing
food and shelter to the farming community of the country.
He expressed these view while visiting the Bank on Wednesday.
According to the officials, the minister held a marathon
session with the Chairman of the ADBP especially taking stock
of the credit finance and recovery.
The minister was hopeful of the revival of ADBP's glory which
according to him was necessary to cater to the financial and
technological needs of the most important sector of the
national economy.
Chairman ADBP, Istiqbal Mehdi told the minister that the Bank
continued to play its role till end of the 80s, however, in
the subsequent period its image gradually faded due to unknown
reasons. He said that silver lining of the situation is that
the Bank has large number of capable people who are ready and
willing to respond to the challenge of change and determined
to up-lift the image of their parent organization to develop
it as vibrant institution.
The finance minister was informed that ADBP was focussing on
promotion of palm oil in coastal districts of Sindh, develop
oil and tea cultivation in Northern Areas and on boosting the
production of pulses in the country in close consultation with
Pakistan Agriculture Research Centre and provincial
governments.
The ADBP management informed the minister that these projects
would be requiring an additional financing of four billion
rupees. Despite a difficult season for the agriculture sector
last year the ADBP has demonstrated upsurge in its recovery
drive, the chairman told the minister.
The minister was of the view that talent of Bank be properly
channelized and persons opposing the change be handled
accordingly. He also emphasized the need of immediate
portfolio audit of Bank's operations, financial restructuring
and introduction of information technology plans. Courtesy The
Nation - July 24
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