The State Bank of Pakistan (SBP) has assigned the scheduled banks with the task to disburse Rs500-billion agriculture credit during this fiscal year.
A decision to this effect was taken yesterday at the annual meeting of the Agricultural Credit Advisory Committee (ACAC), presided over by SBP Governor Ashraf Mahmood Wathra at Lahore Banking Services Corporation (BSC) of the central bank.
Heads of agricultural departments of 31 scheduled banks attended the meeting, which was also briefly joined by Finance Minister Ishaq Dar.
Quoting provisional figures, the SBP governor said around Rs389bn had been disbursed by June 30, 2014, thus surpassing the revised target of Rs380bn set for the 2013-14.
