Habib Bank has launched special campaign for the promotion of agricultural credit for livestock including fisheries. Realising the importance of livestock sub-sector and its role in poverty alleviation, the Habib Bank introduced Haryali Livestock Finance products to cater the needs of farming community for that important sub-sector of the agriculture, a spokesman of Habib Bank said.
The scheme is aimed to fulfill the fixed investment and working capital needs of the farming community to promote livestock sector including dairy farming, sheep/goat farming, fanning of calves for beef production and poultry farming, whereas financing for fish farming was already being allowed on the same line.
Livestock sub-sector is contributing around 49 percent to the agriculture Gross Domestic Product (GDP), for the purpose Habib Bank is putting great emphasis on its promotion through maximum financing in this sector.
During 2004 up to October 31, the bank financed Rs 808 million in livestock sector, which was 379 percent higher than the figure of Rs 150 million, financed last year during the same period, he said.
Habib Bank is going much a head of its disbursement target of Rs 4,000 million fixed by the State bank of Pakistan for the first half of year 2004-05 by disbursing of Rs 4,503 million during the last four months (July to October 2004).
That figure was 87 percent higher than Rs 2409 million disbursed during the same period last year, a press release said.-PR