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ADBP recovers Rs. 3755.835 million in first quarter

ISLAMABAD, Oct 20 (NNI): Agriculture Development Bank of Pakistan (ADBP) has recovered Rs. 3755.835 million during the first quarter (July-September) of current financial year as against Rs. 3587.475 million it recovered during corresponding period last year.
Registering an increase of Rs. 168.360 million, the Bank recovered during corresponding period last year, thus registering an increase of Rs. 168.360 million over the corresponding period last year. Out of total recoveries Rs. 2566.908 million has been recovered in Punjab, Rs. 656.975 million in Sindh, Rs. 397.557 million in NWFP, Rs. 60.731 million in Balochistan, Rs. 45.711 million in FANA and Rs. 27.953 million in AJK.
The Bank has advised its field functionaries not only to provide the timely credit to the farmers so that they can increase yield per acre but also stressed upon them to maximise the recovery of past dues by tightening the noose around big and willful defaulters so that the amount so recovered can be recycled to meet the credit requirements of other farmers and financial base of the Bank can also be strengthened.
The policy of the Government for credit provision is now more focused and effective in line with its policy of giving priority to the agriculture sector for sustainability and export surplus.
Agriculture Development Bank of Pakistan gives more emphasis on lending to small farmers. No only because they are in dire need of credit but also because they pay back the loans promptly and regularly. During July-September recovery of agri. credit (both production and development loans) amounting to Rs. 3723.949 million has been made out of total recovery of Rs. 3755.835 during the period. –NNI

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