|
ADBP portfolio audit to
commence shortly
ISLAMABAD-A comprehensive audit of Agriculture Development
Bank of Pakistan (ADBP), as a first phase of bank's
restructuring will commence shortly with prime objective
of diagnostic review of its financial management and risk
review policies.
The ADBP portfolio audit, scheduled to be commencing under the
aegis of Asian Development Bank (ADB) is expected unfold
aspects and standard operating procedure which may have to be
changed in view of business consideration for effective
delivery products and services to the agriculture sector on
least cost basis.
For restructuring drill, based upon the banks' own action
plan, the sources observed, a competent, comprehensive and in
depth audit of its loans, equity and liquid asset portfolio
could be a crucial starting point for the turn around and
revitalization of the ADBP.
To a question, the sources responded "the audit is intended to
be not a mere examination of the financial accounts, rather a
diagnostic review of its financial management and risk review
policies".
Owing to importance of the agriculture sector as mainstay and
sustainability of the economy, the sources continued,
provision of capital for inputs and agri-related items is
essential for raising the farm output and farmers' incomes.
Besides looking at the in-house ground realities in terms of
financial sustainability of ADBP, maintained the sources, the
management has also embarked upon providing funding to the
private sector such as water conservation, import
substitution, export-based commodities and farm mechanization.
In response to a query, the sources expressed the role of the
bank towards its action plan is now more focused for making
vital contribution as a protector of the agriculture sector,
ensuring provision of capital and technology support to the
farmers in time through simplified modus operandi.
The banks management, viewed the sources is now also taking
proper cognizance of the complaints, receiving from the
borrowers either regarding staff inefficiencies or product
delivery mechanism, as a feed back for further improvement in
its standard
operating procedures.
November 21, 2001
|
Other News
|
