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'Banks must disburse Rs 45bn in June to meet agri credit target'.

KARACHI, June 22 -- Banks need to disburse about Rs 45 billion in June if they are to meet the agriculture credit target of Rs 260 billion set by the State Bank of Pakistan, data released by the central bank on Monday showed.

It seems improbable that banks will be able to achieve the target because their average monthly disbursement during these eleven months stood at only Rs 19.45 billion. Agricultural credit disbursement by commercial and specialised banks stood at Rs 215.039 billion in the first eleven months (July-May) of the current 2009-10 fiscal year (FY10). In absolute terms, disbursement of credit to the agriculture sector increased by Rs 12.934 billion in July-May, 2010 when compared with total disbursement of Rs 202.105 billion in the same period last year.

Overall credit disbursement by Allied Bank Limited, Habib Bank Limited, MCB Bank Limited, National Bank of Pakistan and United Bank Limited stood at Rs 107.015 billion in July-May, 2010 compared with Rs 98.229 billion in July-May 2009, depicting an increase of Rs 8.786 billion or 8.94 percent. Zarai Taraqiati Bank Limited, the largest specialised bank, disbursed a total of Rs 67.741 billion in July-May, 2010, up 7.10 percent when compared with Rs 63.249 billion in the same period last year.

Disbursement by Punjab Provincial Co-operative Bank Limited stood at Rs 3.861 billion in July-May, 2010 compared with Rs 4.018 billion in the same period last year. Besides, 14 domestic private banks also loaned a combined Rs 36.423 billion in July-May, 2010 compared with Rs 36.609 billion disbursed in July-May, 2009. It may be recalled that the State Bank of Pakistan has set an indicative agricultural credit disbursement target of Rs 260 billion for FY10. Banks disbursed a total of Rs 233.01 billion to the agricultural sector in FY09.

Published by HT Syndication with permission from Daily Times. For more information on news feed please contact Sarabjit Jagirdar at htsyndication@hindustantimes.com

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Publication:Daily Times (Lahore, Pakistan)
Date:Jun 22, 2010
Words:347
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