ISLAMABAD, Jun 11 (APP):The agriculture credit disbursement witnessed about 13.3 percent growth during the fiscal year 2019-20 as compared to the disbursement of same period of last year.

According to the Economic Survey 2019-20 launched here on Thursday, during the period from July-March 2019-20, banks disbursed Rs 912.2 billion which was 67.6 percent of the overall annual target and 13.3 percent higher than the disbursement of Rs 804.9 billion made during the same period of last year.

Similarly, the outstanding portfolio of agriculture loans increased by Rs42.2 billion from Rs 529.9 billion to Rs 572.1 billion or 7.9 percent by the end of March 2020 as compared to the same period of last year.

In terms of outreach, the numbers of outstanding borrowers reached to 3.85 million in March 2020.

The total annual agriculture credit target had further assigned amongst different banks and an amount of Rs 705 billion assigned to the five major commercial banks and Rs 253.6 billion to 14 domestic private banks, Rs 100 billion to ZTBL, Rs 13 billion to Punjab Provincial Cooperative Bank and Rs 55 billion to five Islamic banks.

Among the microfinance institutes, the disbursement target of Rs184 billion had assigned to 11 microfinance banks.