The disbursement of credit to the agriculture sector by commercial and specialised banks has shown an impressive growth of 30.39 percent year-on-year during the first eleven months (July-May) of the current fiscal year.
Banks have disbursed a combined total of Rs 184.892 billion to the agriculture sector during July-May period as compared to Rs 141.798 billion in the same period last year, showing an absolute increase of Rs 43.09 billion. Overall credit disbursement by five major commercial banks, including Allied Bank Limited (ABL), Habib Bank Limited (HBL), MCB Bank, National Bank of Pakistan (NBP) and United Bank Limited (UBL) stood at Rs 85.584 billion during the first eleven months of the current fiscal year, compared with Rs 68.029 billion during the corresponding period last year, depicting an increase of Rs 17.56 billion in absolute terms or 25.81 percent.
The Zarai Taraqiati Bank Limited (ZTBL), the largest specialised bank, has disbursed Rs 56.072 billion in July-May period, compared with Rs 47.003 billion last year, while disbursement by the Punjab Provincial Co-operative Bank Limited (PPCBL) stood at Rs 4.338 billion, as compared with Rs 5.978 billion last year. Besides, 14 domestic private banks (DPBs) also loaned combined Rs 38.898 billion during July-May period, up 87.11 percent when compared with Rs 20.788 billion disbursed last year.
It may be recalled that the State Bank of Pakistan (SBP) has set an indicative target of Rs 200 billion for the current fiscal year, up from Rs 160 billion in the last fiscal year, showing an increase of Rs 40 billion. During the last fiscal year, the commercial and specialised banks had disbursed a total of Rs 168.83 billion to the agriculture sector.
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