ISLAMABAD: The government is making all out efforts to ensure availability of credit and enhancing its flow to small farmers to boost agriculture production.
According to a senior official, currently 33 financial institutions including commercial, specialized and microfinance banks are providing agriculture credit facilities to the small farmers. The share of small farmers in total farm lending is 57 %.
During the first nine months of current financial year, the banks disbursed agriculture loan of over Rs 326 billion which is 65 % of the annual target. Similarly, the outstanding portfolio of agriculture loans has also been increased.
The federal government increased agriculture credit availability to Rs 500 billion for agriculture financing for the current financial year against the allocation of Rs 380.032 billion last year.
32 % increase in target indicates keen interest of the government to facilitate farming community in the country. State Bank of Pakistan has accordingly given a target of Rs 500 billion to all banks of the country involved in agriculture financing.
The post Agri: (Banks disbursed agriculture loan of over Rs 326 bln) appeared first on Pakistan Press International.