Agri credit disbursement up by 15 percent YoY basis - Business Recorder (blog)

RECORDER REPORT

KARACHI: Agricultural credit disbursement by banks surged by 15.29 percent on year-on-year basis to Rs 223.845 billion in the first ten months (July-April) of the current fiscal year (2011-12).

In absolute terms, disbursement of credit to the agriculture sector increased by over Rs 29.688 billion in July-April, 2012 when compared with total disbursement of Rs 194.157 billion in the same period of the last fiscal year.

Overall credit disbursement by five major commercial banks including Allied Bank Limited, Habib Bank Limited, MCB Bank Limited, National Bank of Pakistan and United Bank Limited stood at Rs 120.415 billion in July-April, 2012 compared with Rs 107.720 billion disbursements in July-April, 2011 depicting an increase of Rs 12.695 billion or 11.79 percent.

Zarai Taraqiati Bank Limited, the largest specialized bank, disbursed a total of Rs 43.906 billion in July-April, 2012, up by 0.51 percent when compared with Rs. 43.681 billion disbursement in the same period of the last fiscal year. Punjab Provincial Co-operative Bank Limited disbursed Rs 6.352 billion in July-April, 2012 up 39.81 percent when compared with Rs 4.543 billion disbursement in the same period of the last fiscal year.

Fourteen domestic private banks also loaned a combined amount of Rs 44.143 billion in July-April, 2012 up by 15.52 percent compared with Rs 38.213 billion disbursement in the same period of the last fiscal year. Five Microfinance banks including Khushhali Bank Ltd., NRSP Microfinance Bank Ltd., The First Microfinance Bank Ltd., Pak Oman Microfinance Bank Ltd. and Tameer Microfinance Bank Ltd. disbursed a total of Rs 9.030 billion in July-April, 2012 period. It may be pointed out that the State Bank of Pakistan for the first time has given an indicative target of Rs 12.20 billion to Microfinance banks for disbursement of credit to agriculture sector during the current fiscal year. The State Bank has set an indicative agricultural credit disbursement target of Rs 285 billion for the current fiscal year.

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Sindh card has “run out of credit,” says Nawaz - DAWN.com

Pakistan Muslim League – Nawaz (PML-N) chief Nawaz Sharif addresses a public meeting at Dakhan, Shikarpur on Tuesday, May 15, 2012.—Online Photo

SHIKARPUR: Chief of the opposition Pakistan Muslim League – Nawaz (PML-N), Mian Mohammad Nawaz Sharif on Wednesday said that the Sindh card could no longer be used as it had “run out of credit,” DawnNews reported.

Speaking to reporters in Shikarpur, the PML-N chief blamed the country’s rulers of being disconnected from the people and oblivious to their problems.

He said it was time the government paid attention to the masses’ issues and served the people.

Moreover, the former prime minister alleged that Rehman Malik’s past was rife with graft cases, saying that the interior minister had previously been convicted by the courts.

“Who is he to accuse others? He is not an angel,” said Sharif. “He (Malik) joined forces with Zardari to save himself. Now they are only protecting each other.”

Malik has accused the PML-N chief of money-laundering and corruption worth $32 million — claims the interior minister vows to prove.

The Supreme Court is hearing a case into allegations that the Inter-Services Intelligence (ISI) illegally financed politicians in the 1990s through the now defunct Mehran Bank Limited. The bank’s former chief, Younis Habib, claims he delivered money by hand to the PML-N chief, and paid his brother, Punjab Chief Minister Shahbaz Sharif, a sum of Rs 2.5 million.

The PML-N denies the allegations, calling the claims baseless and a “pack of lies”.

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