Agri-credit disbursement increases 22.7% in 9 months: Survey

ISLAMABAD, May 25 (APP): Agricultural Credit disbursement in
the country during the period from July-March, 2016-17 grew by 22.7
percent as compared the same period of last year.
According the Economic Survey 2016-17, launched here Thursday
agriculture credit disbursement in last nine months were recorded at
Rs 473.1 billion which was 67.6 percent of the overall annual target
of Rs 700 billion.
The agri-credit disbursement was recorded at Rs 385.5 billion
during the corresponding period of last year.
Out of the total target, Rs 340.0 billion have been allocated
to five major banks, Rs 102.5 billion to ZTBL, Rs 139.6 billion to
15 domestic private banks and Rs 12.5 billion to Punjab Provincial
Cooperative Bank Limited (PPBCL).
Out of the total target Rs 60.1 billion have been allocated to
10 microfinance banks, Rs 11.0 billion to four Islamic banks and Rs
34.3 billion to 16 newly inducted MFIs/RSPs for FY 2016-17.
The outstanding portfolio of agriculture loans has also been
increased by Rs 45.3 billion from Rs 333.8 billion to Rs 379.1
billion with 13.6 percent growth at end March 2017 as compared to
same period last year.
Despite having various real sector challenges, the overall
performance of banks remained encouraging and witnessed 22.7
percent growth in disbursement during the period under review.
Five major banks as a group have disbursed Rs 236.6 billion or
69.6 percent of its annual target, ZTBL disbursed Rs 57.5 billion or
56.1 percent of its target of Rs 102.5 billion while PPCBL disbursed
Rs 6.9 billion, 55.1 percent against its target of Rs 12.5
billion during the period under review.