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Agriculture credit in July to January 2003-04:
Stuck-up loans exceed Rs 100b
ISLAMABAD,April 01: Outstanding loans booked by
financial institutions towards the agriculture
sector have expanded to Rs 100.91 billion in the
current fiscal year, a food ministry official said
here Wednesday.
Commercial banks’ outstanding portfolio in the
agricultural sector has shown a growth of Rs 9.96
billion, or 10.95 percent, during July to January
against the corresponding period of the last
fiscal year, he said. In July to January 2002-03,
total stuck up agricultural loans stood at Rs
90.951 billion.
He said the Zarai Taraqiati Bank Limited (ZTBL)
has a lion’s share of Rs 72.112 billion, or 71
percent, in the total portfolio of Rs 100.91
billion stuck-up loans in the agricultural sector.
The break-up of loans shows that commercial banks’
outstanding stake in the agricultural sector by
January, amounted to Rs 21.661 billion, with Rs
5.017 billion owed to Punjab Provincial
Cooperative Bank Limited Rs 2.119 billion to
domestic private banks. Of these, the major share
went to the Bank of Punjab with Rs 1.198 billion
in stuck-up loans.
The financial institutions have recovered Rs
36.197 billion loans in the July to January period
of this fiscal, showing an increase of Rs 5.95
billion, or 19.67 percent, over the corresponding
period of the last fiscal year.
In this fiscal, financial institutions have
disbursed Rs 39.104 billion as against Rs 31.641
billion in last fiscal, showing increase of Rs
7.463 billion, or 23.58 percent. Financial
institutions would have to disburse another Rs
26.446 billion to meet the annual target of Rs
65.55 billion disbursement in 2003-04.
The official said ZTBL had a target to disburse Rs
33 billion in the current fiscal.
Similarly, commercial banks are supposed to
provide Rs 22.4 billion in credit to the
agriculture sector in this fiscal while the Punjab
Provincial Cooperative Bank and private banks had
been given the task to disburse Rs 7.50 billion
and Rs 2.65 billion, respectively in the current
fiscal.
The official said lending to the farming sector by
commercial banks would exceed the credit line of
ZTBL for the first time.
He said that the availability of surplus liquidity
with domestic commercial banks has enabled them to
focus on lending to the agriculture sector that
largely depend on ZTBL.
Daily Times |
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Pakissan.com; Advisory Point
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