Monday, August 13, 2018

State Bank of Pakistan (SBP) raises target for agriculture credit by 25pc

KARACHI: The State Bank of Pakistan (SBP) has increased agriculture credit target by 25 per cent to Rs1.25trillion for the financial year FY19.



The Agriculture Credit Advisory Committee (ACAC) meeting chaired by the SBP Governor, Tariq Bajwa on Saturday reviewed the performance of banks financing for agriculture sector and found the result satisfactory. The banks achieved 97pc of Rs1tr target, set for FY18.

Overall, the disbursement target of Rs1.25tr has been assigned to banks which is 82pc of the total estimated agriculture credit requirement of Rs1.52tr for FY19, said the State Bank.

The meeting noted that the province-wise and sector-wise distribution of the target was adopted while considering provincial agricultural credit requirements, banks’ overall lending capacity and their business expansion plans.

“For the first time, Islamic banks and Islamic branches of commercial banks have been assigned a disbursement target of Rs100 billion to help realise their potential,” said the SBP.

The overall target of potential recipients of disbursement has been enhanced to 4.42 million, with an addition of 700,000 new borrowers.

During FY18, the banks disbursed Rs 972.6bn, which was over 97pc of the assigned target and 38pc higher than FY 2016-17. In terms of agriculture credit demand, banks met 72pc of the total agriculture credit requirement compared to 57pc last year.

The SBP governor added that the outstanding portfolio of agriculture credit also increased to Rs469bn serving 3.72m borrowers at end June 2018. The agri lending banks and institutions added 450,000 fresh borrowers during the year.

The meeting noted that the banks had sufficiently met their assigned targets; however, Zarai Taraqiati Bank Limited, Punjab Provincial Cooperative Bank Limited, some of the domestic private banks and Islamic banks fell short of achieving their annual targets.

“The province-wise agriculture credit disbursement witnessed double-digit growth across all provinces and regions; however, banks struggled to achieve their assigned regional targets in the underserved provinces and regions,” said Mr Bajwa.

The SBP governor said that all banks should finalise recruitment of the shortlisted candidates on a priority basis and take maximum benefit from upcoming job fairs being planned by the central bank in collaboration with agriculture universities.

The committee also deliberated on the new directions in agricultural financing by focusing on digitalisation of agriculture loan processes, value chain and warehouse receipt financing, high value added crops, provision of farmer advisory services and real time crop monitoring through Geographic Information Systems (GIS).

The SBP governor said the banks must continue to innovate and provide agriculture credit while adopting digital technologies, value chain financing, high value crops and create more linkages for improving livelihoods in the country.

Furthermore, he advised banks to overcome their infrastructure gaps in order to achieve annual agricultural credit target of Rs1,250bn for FY2018-19.

The target for FY19 was not very steep compared to last year to allow the banks to bring a qualitative shift in agri financing, he said.

He said the banks need to enhance their Advances to Deposit ratio in all provinces and regions to support local economies.

Banks must adopt, replicate and scale up the existing pilots on Electronic Land Record Management Information System for efficient and timely provision of credit to small famers, he added.

Mr Bajwa said Islamic banks and branches are required to develop innovative financing products in line with agriculture sector needs.

The meeting was attended by senior officials of federal and provincial governments, presidents and CEOs of banks, members of all provincial chambers of agriculture, progressive farmers and representatives of Azad Jammu and Kashmir farming community.

Published in Dawn, August 12th, 2018




SHARE THIS

Author:

Thanks for visiting our website. Like our FB pages and subscribe for daily updates; you can comment on the above post bellow ↓with your Google id or Facebook id – Thank you for your time..☺

0 comments:

 
‎لطیفے اور شاعری‎
Facebook group · 8,142 members
Join Group
یہ گروپ آپ سب کے لئے ہے۔ پوسٹ کیجئے اور بحث کیجئے۔۔۔۔۔ اپنی آواز دوسروں تک پہنچائے۔۔۔اور ہاں گروپ کو بڑا کرنے کے لئے اپنے دوستوں کو بھی گروپ میں دعو...
 

All Categories

Aaj Kamran Khan ke Saath Aamir Liaquat Hussain Aapas ki Bat NajamSethi Abdul Qadir Hassan AchiBaatain Afghanistan Aga Khan University Hospital AirLineJobs Allama Iqbal America Amjad Islam Amjad Anjum Niaz Ansar Abbasi APP Aqwal Zareen Articles Ayat-e-Qurani Ayaz Amir Balochistan Balochistan Jobs Bank of Khyber Banking Best Quotes Biwi Jokes Blogger Tips Chaltay Chaltay by Shaheen Sehbai China Chitral Coca-Cola Coke Studio Columns CookingVideos Corporate News Corruption Crimes Dr Danish ARY Sawal Yeh Hai Dubai E-Books EBM Education Educational Jobs Emirates English #Quotes English Columns EnglishJokes Funny Photos Funny Talk Shows Funny Videos Gilgit-Baltistan Girls Videos Govt Jobs HabibJalibPoetry Hamid Mir Haroon Al-Rashid Hasb-e-Haal with Sohail Ahmed Hassan Nisar Hassan Nisar Meray Mutabaq Hazrat Ali AS Sayings HBL Health HikayatShaikhSaadi Hospital_Jobs Hotel Jobs Huawei Hum Sab Umeed Say Hain India Information Technology Insurance International News Islam Islamabad Islamic Videos JammuKashmir Javed Chaudhry Jazz Jirga with Salim Safi Jobs Jobs Available Jobs in Karachi Jobs in KPK Jobs in Pak Army Jobs_Sindh JobsInIslamabad Jokes Jubilee Insurance Kal Tak with Javed Chaudhry Karachi Kashmir KhabarNaak On Geo News Khanum Memorial Cancer Hospital Khara Sach With Mubashir Lucman Khyber Pakhtunkhwa Lahore Latest MobilePhones Lenovo LG Life Changing Stories LifeStyle Live With Dr. Shahid Masood Live with Talat Hussain Maulana Tariq Jameel MCB Bank Microsoft Mobilink Mujeed ur Rahman Shami Munir Ahmed Baloch Nasir Kazmi Nazir Naji News News Videos NGO Nokia North Korea Nusrat Javed Off The Record (Kashif Abbasi) Off The Record With Kashif Abbasi On The Front Kamran Shahid OPPO Orya Maqbool Jan Pakistan Pakistan Army Pakistan Super League Pashto Song Photos Poetry Political Videos Press Release Prime Time with Rana Mubashir PTCL Punjab Quetta Quotes Rauf Klasra Samsung Sar-e-Aam By Iqrar-ul-Hasan Sardar Jokes Saudi Arabia ShiroShairi Show Biz Sikander Hameed Lodhi Sindh Social Media Sohail Warriach Songs Sports News Stories Syria Takrar Express News Talat Hussain Talk Shows Technology Telecommunication Telenor To the point with Shahzeb Khanzada Tonight with Moeed Pirzada Turkey Tweets of the day Ufone University Jobs Urdu Ghazals Urdu News Urdu Poetry UrduLateefay Video Songs Videos ViVO Wardat SamaaTV WaridTel Wasi Shah Zong اردو خبریں
______________ ☺ _____________ _______________ ♥ ____________________