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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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