“During the first seven months of FY15, banks have disbursed Rs256 billion of agricultural credit and achieved 51% of the annual target of Rs500 billion, up 35% compared to the same period of last year.” CREATIVE COMMONS
State Bank of Pakistan (SBP) Governor Ashraf Mahmood Wathra has announced the formation of two separate committees to scale up warehouse receipt financing and increase agri-credit in under-served provinces and regions.
Speaking at a mid-term review meeting of the Agricultural Credit Advisory Committee (ACAC) for 2014-15 in Faisalabad, he said, “During the first seven months of FY15, banks have disbursed Rs256 billion of agricultural credit and achieved 51% of the annual target of Rs500 billion, up 35% compared to the same period of last year.”
Wathra said that agriculture credit growth is on track, and it is poised to achieve over 53% of the agriculture credit demand in FY15 compared to 39% in FY10.
Published in The Express Tribune, February 22nd, 2015.
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