KARACHI, Nov 20: Agriculture credit disbursement by banks increased by 16.20 per cent year-on-year to Rs57.60 billion during the first four months (July-Oct) of the current fiscal year as compared to Rs49.569 billion disbursed in the same period last year.

Disbursement by five major commercial banks Allied Bank, Habib Bank, MCB Bank, National Bank and United Bank stood at Rs31.455 billion during the period under review compared with Rs26.838 billion in corresponding period last year, an increase of 17.20 per cent.

Zarai Taraqiati Bank, the largest specialised bank, disbursed Rs12.089 billion compared with Rs10.008 billion the same period of last fiscal year. While the Punjab Provincial Cooperative Bank (PPCBL) extended around 33 per cent less at Rs882.732 million as against Rs1.318 billion it disbursed the same period last fiscal year. However, the 14 domestic private banks (DPBs) offered Rs13.173bn in farm credit during the period, up 15.50 per cent when compared with Rs11.405bn disbursed last year.

The State Bank has set an indicative agriculture credit disbursement target of Rs250 billion for this fiscal year, which is higher by Rs50 billion over the last fiscal year’s target.