Karachi,? Agricultural credit disbursement by banks surged by 20 percent on year-on-year basis to Rs 149.658 billion in first seven months (July-January) of current fiscal year (2011-12). In absolute terms, disbursement of credit to agriculture sector increased by over Rs 24.772 billion in July-January, 2012 when compared with total disbursement of Rs 124.886 billion in same period of last fiscal year.
State Bank of Pakistan SBP press release Wednesday said overall credit disbursement by five major commercial banks including Allied Bank Limited, Habib Bank Limited, MCB Bank Limited, National Bank of Pakistan and United Bank Limited stood at Rs 82.462 billion in July-January, 2012 compared with Rs 68.481 billion disbursement in July-January, 2011 depicting an increase of Rs 13.981 billion or 20.42 percent.
Zarai Taraqiati Bank Limited, largest specialized bank, disbursed total of Rs 26.361 billion in July-January, 2012, down by 0.03 percent when compared with Rs 26.369 billion disbursement in same period of last fiscal. Punjab Provincial Co-operative Bank Limited disbursed Rs 4.980 billion in July- January, 2012 up by 28.49 percent when compared with Rs 3.876 billion disbursement in same period of last fiscal.
Fourteen domestic private banks also loaned combined amount of Rs 28.996 billion in July-January, 2012 up by 10.84 percent compared with Rs 26.160 billion disbursement in same period of last fiscal. Five Microfinance banks including Khushhali Bank Ltd., NRSP Microfinance Bank Ltd., The First Microfinance Bank Ltd., Pak Oman Microfinance Bank Ltd. & Tameer Microfinance Bank Ltd. disbursed a total of Rs 6.858 billion in July-January, 2012.
SBP for first time has given indicative target of Rs 12.20 billion to Microfinance banks for disbursement of credit to agriculture sector during current fiscal. SBP set an indicative agricultural credit disbursement target of Rs 285 billion for current fiscal.
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