PPCBL recovers Rs 810 million of old agriculture loans

Punjab Provincial Co-operative Bank Ltd (PPCBL) with the active support of the co-operative department has recovered Rs 810 million old and risky agriculture loans till 31st December 2010, a PPCBL spokesman told Business Recorder here Wednesday. The Bank has also recovered Rs 1.45 billion of loans, advanced to farmers for 2010 Kharif crops, he added.
He said that Co-operative Punjab Registrar Dr Pervaiz Ahmad Khan has directed the co-operative department and the PPCBL managers to recover maximum amount of loans advanced for the 2010 Kharif crops (cotton, rice, sugarcane, maize, and vegetables) so that these could be advanced to the farmers for sowing and maturing the winter Rabbi crops (wheat, grams, oil seeds, maize, vegetables and fodder). He said PPCBL will provide Rs 3 billion to small farmers for 2010-2011 Rabbi crops through the co-operative societies till 31st January 2011.