Thursday, 14 November 2013

Punjab utilised Rs 290 billion of Rs 336 billion agriculture credit in fiscal year 2013

Punjab utilised Rs 290.3 billion agricultural credit of the total allocation of Rs 336.2 billion by the State Bank of Pakistan (SBP) for FY13. The major share of agri credit amounting to Rs 290.3 billion was disbursed in Punjab during 2012-13 against the target of Rs 246 billion and its share in total disbursement stood at 86.3 percent.

In Sindh banks disbursed Rs 36.3 billion or 82.6 percent against the target of Rs 44 billion during the 2012-13, according to an official document made available to Business Recorder. According to the document, the Khyber Pakhtunkhawa received Rs 8.4 billion or 47.3 percent of the target allocation for agricultural lending. Out of the total agri credit allocated by SBP, Balochistan received 6.6 percent; Azad Jammu Kashmir 37.1 percent and Gilgit Baltistan 29.4 percent.

The SBP fixed Rs 315 billion agricultural credit disbursement to banks for the year 2012-13. The target was 10.5 percent higher than the target of Rs 285 billion and 7.2 percent higher than the actual disbursement of Rs 293.8 billion during 2011-12. During the year 2012-13 banks surpassed agri credit disbursement target and disbursed Rs 336.2 billion against the target of Rs 315 billion, which is Rs 21 billion in excess of the target for the fiscal year 2012-13 and 14.4 percent higher than last year''''s disbursement of Rs 293.8 billion.

Five commercial banks collectively disbursed agri loans of Rs 172.8 billion or 112.6 percent of their annual target, higher by 18.0 percent from Rs 146.3 billion disbursed during the corresponding period last year. Under specialised banks category, ZTBL disbursed Rs 67.1 billion or 93.1 percent of its annual target of Rs 72 billion while Punjab Provincial Co-operative Bank Limited (PPCBL) disbursed Rs 8.3 billion by achieving 92.3 percent of its target of Rs 9.0 billion during financial year 2012-13.

As many as 14 domestic private banks as a group achieved 103.6 percent of the target. While the group of five microfinance banks surpassed their annual targets of Rs 13.8 billion by disbursing agri loan of Rs 18.7 billion during FY13. Out of total disbursement of Rs 336.2 billion during 2012-13, Rs 199.6 billion or 59 percent were disbursed to farm sector and Rs 136.6 billion or 40.6 percent to non-farm sector. However, during corresponding period last year, a total of Rs 293.8 billion was disbursed of which Rs 196.2 billion or 66.8 percent was disbursed to farm-sector while non-farm sector received Rs 97.6 billion or 33.2 percent of the total disbursement by banks.
Copyright Business Recorder, 2013

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