Punjab Provincial Co-operative Bank Ltd has so far sanctioned Rs 1.634 billion agriculture loans for sowing, growing and maturing Kharif crops 2016 through 8,996 members of 45,537 co-operative societies in the province. PPCBL spokesman Rana Irshad Ali told Business Recorder that the Co-operative Bank has fixed the target of Rs 2.5 billion for extending agriculture loans for the Kharif Crops including cotton, rice, sugarcane, maize, vegetables, fodder for livestock and fruit orchards till 1st August 2016.
He said the PPCBL with the cooperation of the provincial co-operative department has recovered loans amounting to Rs 1.6746 billion, ie 94.22 percent of the advances extended for the 2015-16 Rabi crops so far. Secretary Co-operatives Shehr Sultan has directed the bank's management to make every effort for recovery of the outstanding non-performing loans of the bank.