PPCBL becomes profit-earning institution: Anwar

The Punjab Provincial Co-operative Bank Limited (PPCBL) is expected to post a profit of Rs 300 million during the year 2005-06 against previous year's Rs 180 million. "The bank is now out of woods; it is no more a loss-making entity as it used to be about two years ago."
Punjab Minister for Co-operatives, Colonel Muhammad Anwar (retd) told a press conference here on Monday. He said only PPCBL has survived the difficult times as Federal Bank of Co-operatives (FBC) and co-operative banks of other provinces had ceased to exist. Responding to a question, Malik Anwar said PPCBL was extending micro-finance to the farming community at mark up rates as low as 12 percent.