Agriculture credit disbursement rises by 20% – Alfalah Securities Limited

Karachi: Agricultural credit disbursement has increased by 20%YoY to PKR 149.66 billion in the 7MFY12 (Jul-Jan).

According to Alfalah Securities Limited, overall credit disbursement by five major commercial banks including ABL, HBL, MCB Bank, NBP and UBL stood at PKR 82.46 billion as compared to PKR 68.481 billion disbursement during the same period last year depicting an increase of 20.42%. State Bank of Pakistan had set an indicative agricultural credit disbursement target of PKR 285 billion for FY12. The improvement agri disbursement would improve the purchasing power of the farmers which in turn may result in higher fertilizer offtakes and to some extent higher sale of tractors.