Under the Punjab Provincial Co-operatives Bank Ltd (PPCBL) policy, co-operative societies are issuing agricultural loans to small farmers for the Kharif 2006 crop, and will continue to do so through April and May, till June 30.
The loans with 12 percent annual mark-up would be liable for repayment by January 31, 2007, said Punjab Co-operatives Minister Colonel (Retd) Malik Muhammad Anwar, according to a handout issued here on Monday.
Farmers misusing the loaned amount could be liable for action, he said, adding that agri loans over Rs 200,000 would be issued on 'kifalat' of the agri land. Loans would be issued to interested farmers on production of audit certificate duly attested by a co-operative inspector.