STAFF REPORT IBD: The State Bank of Pakistan (SBP) will disburse agricultural loans to the tune of Rs 1.60 billion amongst 12,000 growers and land owners of Hazara Division through commercial banks and other financial institutions.
Deputy Chief Manager, SBP, Rawalpindi, said this at a recently held meeting with Commissioner, Hazara, Khalid Khan Umerzai. He said that an amount of Rs 1.60 billion will be disbursed among the growers and land owners of Hazara Division for crops, orchards, poultry, livestock, fisheries, tractors and agricultural machineries under soft terms and conditions.
For this purpose, he said that a target of 12,000 growers has been fixed in Hazara.
“Commercial banks are required to allocate a specific share in the loans obtained from central bank for provision to growers under head of agricultural loans,” the SBP official said.
He said that taking participation in one-window operation has been made obligatory on all commercial banks. The disbursement process of these loans will be formally monitored, he explained.
In his remarks, the Hazara Commissioner said that concerned officers will remain present for the One Window Operation.