The Punjab Provincial Co-operative Bank Limited (PPCBL) is disbursing loans of over Rs eight billion per annum and for the current Rabi 2005-06 the bank is providing loans of Rs 2.7 billion to small farmers through the co-operative societies.
PPCBL GM Raja Allah Bakhsh disclosed this during a briefing on the performance of the bank to the Co-operatives Secretary Sheikh Saeed Akhtar in the presence of other senior officials, a spokesman of the bank disclosed here on Tuesday.
It was told in the meeting that besides financing to the co-operative societies, the bank was also granting medium term loans for purchase of tractors, agriculture inputs, dairy development, car financing, gold loan etc. Registrar Co-operative Major Zulqarnain Amir (Retd) told the meeting the bank had always been issuing loans strictly in accordance with the instructions of the State Bank of Pakistan and the Punjab government. He said that it would be their utmost priority to issue the loans for current crop in time and would also attain the recovery target for Kharif 2005.
"At present the recovery ratio remained more than 98 per cent, which shows the trust of cultivators on the bank," he added.
The Secretary directed the bank officers to provide all facilities to small farmers so that in turn they could play their role for agriculture development.
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