Disbursement of credit to the agriculture sector by commercial and specialised banks has increased by 10.92 percent year-on-year to Rs 174.778 billion during the first ten months (July-April) of the current fiscal year (2008-09). Agricultural credit disbursement, in absolute terms, rose by over Rs 17.21 billion in July-April, 2009 period when compared with disbursement of Rs 157.566 billion during the same period last fiscal year (2007-08).
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 86.552 billion during July-April, 2009 period, compared with Rs 74.328 billion during the same period last fiscal year, depicting an increase of over Rs 12.22 billion or 16.45 percent.
Zarai Taraqiati Bank Limited, the largest specialised bank, has disbursed Rs 52.505 billion in July-April, 2009 period, up 14.71 percent when compared with Rs 45.773 billion during the same period last fiscal year, while disbursement by Punjab Provincial Co-operative Bank Limited stood at Rs 3.610 billion in July-April, 2009 period, compared with Rs 3.983 billion during the same period last fiscal year.
Besides, 14 domestic private banks also loaned a combined Rs 32.111 billion in July-April, 2009 period, compared with Rs 33.482 billion disbursed in July-April, 2008 period.
It will be recalled that the State Bank of Pakistan has set an indicative credit disbursement target of Rs 250 billion for the agriculture sector for the current 2008-09 fiscal year (FY09) which is higher by Rs 50 billion or 25 percent than last fiscal year''s target of Rs 200 billion and Rs 38 billion or 18 percent higher than the actual disbursement of Rs 212 billion in FY08.
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