Agriculture sector receives loans of Rs. 1.1 trillion in first half of FY24
During the initial six months (July-December 2023) of the
current fiscal year 2023-24 (FY24), financial institutions in the country
provided loans amounting to Rs. 1.1 trillion to the agriculture sector.
As per data released by the State Bank of Pakistan (SBP),
these financial institutions have accomplished 49 percent of the annual
indicative agriculture credit target, which stands at Rs. 2,250 billion, set by
the central bank for FY24.
Banks
extend record Rs1.78 trillion to agriculture sector
Breaking down the agriculture financing for July-December
2023, the livestock and dairy sector received loans totaling Rs. 271 billion,
constituting 24 percent of the overall disbursements. Loans of Rs. 246 billion
and Rs. 174 billion were allocated for crops and poultry, respectively.
Additionally, Rs. 415 billion was disbursed for various
other purposes within the agriculture sector.
Source: Pro Pakistani