960417

ADBP disburses

credits of Rs 7.86 bn

during 1995

KARACHI: During 9 months of current financial year, the Agricultural Development Bank of Pakistan (ADBP) has disbursed credits of Rs 7.86 billion and made recoveries of Rs 9.14 billion registering a growth of 43 percent over recoveries made during corresponding period of 1995, says ADBP press release.

This was disclosed by the Chairman ADBP, Tariq Sultan while presiding over a meeting of Bank's Board of Directors here on Wednesday in Islamabad.

Analysing lending operations, the Bank chief informed the board that out of total disbursements of Rs 7.86 billion, credits of Rs 4 billion were provided for production purposes under Kisan banking. Rs 3.8 billion under general banking and Rs 0.06 billion under project credit.

Sixtyone percent of the total loans were disbursed for production purposes under Kisan banking while 34 percent loans were provided for purchase of tractors, which figure includes disbursements made under the Awami Tractors Scheme (ATS), he said.

To ensure maximum production of last Rabi crops, particularly wheat, the State Bank of Pakistan assigned production loans disbursement target of Rs 2.8 billion to ADBP . Despite financial constraints ADBP managed to surpass the assigned target by disbursing Rs 2.93 billion to agriculturists for Rabi season, the board was informed.

Commenting on recovery operations the chairman informed the board members that in order to strengthen the financial base of the bank and to accumulate funds for further loaning, the management took various steps to accelerate recovery pace of its dues. The field employees were instructed to redouble their efforts and recover maximum amount of due loans. Simultaneously, help of revenue departments of provincial governments was also sought for recovery of dues as arrears of land revenue.