Banking sector failed to achieve worth Rs 600 billion target for supplying agricultural loans to farmers as agricultural development bank and Punjab provisional co-operative bank have lagged far behind from set target.
According to SBP, in contrary of Rs 600bn fixed target in fiscal year 2016, Rs 598.30bn only had been distributed as agricultural debt. Besides this five major banks disbursed by Rs 311.40bn in contrary of Rs 305.70bn.
The National Bank, Habib Bank, Muslim Commercial Bank acquired 109 per cent, 102 per cent, 101 per cent respectively respectively while United Bank achieved 100 per cent target. However, Allied bank, agricultural development bank, provisional cooperative bank have achieved 87, 91, 83 per cent target whereas 15 private banks have achieved 93 per cent target, meanwhile micro finance banks achieved by Rs 54 bn loan in contrary of Rs 40bn.
