Home »Agriculture and Allied » Pakistan » Rs 700 billion allocation: Punjab utilises Rs 361.8 billion agriculture credit

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  • Apr 28th, 2017
  • Comments Off on Rs 700 billion allocation: Punjab utilises Rs 361.8 billion agriculture credit
Punjab has utilised Rs 361.8 billion agriculture credit out of the total Rs 700 billion allocated by the State Bank of Pakistan (SBP) for fiscal year 2016-17. The major share of agriculture credit of Rs 361.8 billion was disbursed in Punjab during the first eight months of the current fiscal year (July to February) 2016-17 against the target of Rs 507.9 billion - 71.2 percent of the disbursement for the entire year, according to official document available with Business Recorder.

In Sindh banks disbursed an amount of Rs 38.6 billion July February or 37 percent of the indicative target for the period projected at 104.3 billion. According to the document, Khyber Pakhtunkhwa (KP) received Rs 7.2 billion July-February or 15.8 percent of its allocated target for the first eight months.

Out of the total agricultural credited allocated by SBP, Balochistan received Rs 0.3 billion July-February against the target of Rs 34.3 billion, for the period, Azad Jammu Kashmir (AJK) received Rs 0.7 billion against the target Rs 4.1 billion and Gilgit Baltistan (GB) received Rs 0.3 billion against the period target of Rs 3.5 billion.

The SBP earmarked agricultural credit disbursement target of Rs 700 billion to the banks for the year 2016-17. The target was 17 percent higher than target of Rs 598.3 billion disbursed in 2015-16. During the period the banks disbursed Rs 409.0 billion which is 58.4 percent of the overall annual target of Rs 700 billion and 22.9 percent higher than disbursement of Rs 332.8 billion made during the corresponding period last year.

Five major banks as a group have disbursed Rs 204 billion or 60 percent of its annual target. Two specialised banks namely (i) Zarai Taraqiati Bank Limited (ZTBL) disbursed Rs 46.7 billion or 45.5 percent of its target of Rs 102.5 billion and (ii) Punjab Provincial Co-operative Bank limited (PPCBL) disbursed Rs 5.9 billion or 47.7 against its target of Rs 12.5 billion during the period under review.

Fifteen domestic private banks collectively disbursed Rs 78.5 billion or 56 percent of t their target of Rs 139.6 billion. Ten microfinance banks have disbursed Rs 55.2 billion or 91.8 percent of their annual targets, however, the four Islamic banks as a group disbursed Rs 7.8 billion against the target of Rs 11 billion during the period. Out of the total disbursements of Rs 409.0 billion during 2016-2017, Rs 19.6 billion or 51.447.9 percent was disbursed to farm sector and Rs 212.9 billion or 52.1 percent to non farm-sector.

During the corresponding period of last year, a total amount of Rs 332.8 billion was disbursed out of which Rs 163.3 billion or 49.1 percent was disbursed to farm sector and non farm sector received Rs 169.3 billion or 50.9 percent of total disbursement by banks.



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