'SBP ensuring optimum loaning to farmers'

The State Bank of Pakistan (SBP) was ensuring best facilities to farmers for enhancing agricultural production in the country, Director Agricultural Credit State Bank of Pakistan Ashraf Khan said. Talking to a private TV channel, he said SBP is developing Crop Loan Insurance Scheme as guard to farmers against natural disasters.
Mobile credit officers have also been issuing loans to people of far-flung areas at their doorsteps. They have also been asked to provide technical assistance and guidance to the farmers. State Bank of Pakistan (SBP) has created a Special Development Finance Group for issuing loans in the areas where normal banking channel is scarce or missing, he said.
It is estimated that a sum of Rs 160 billion would be disbursed by various banks among the farmers during the current financial year as compared to Rs 139 billion last year. There is no restriction on banks to issue loans more than the target. Zarai Taraqqiati Bank (ZTBL) has issued an amount of Rs 47 billion as loans till January 31.