April 1, 2002	Monday	Muharram 17, 1423

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ISLAMABAD March 31: The ADBP has disbursed Rs18,301.802 million loans among 329,083 borrowers from July 2001, to February 2002, against Rs17,204.685 million distributed during the corresponding period in the last fiscal.

During this period, the Agriculture Development Bank of Pakistan (ADBP) recovered Rs20,085.480 million, showing a slight increase of Rs19675.242 million against Rs196,75.242 million recovered in previous fiscal.

Official sources said the lending showed a growth of 6.4 per cent, termed it dynamic to rehabilitate country’s economy through agricultural produce.

Out of the total amount disbursed, Rs14,541.7 million were provided as production loans which constitute about 79.5 per cent of the total agriculture credit to purchase seeds, fertilisers, insecticides and pesticides etc., during Rabi and Kharif seasons.

Of Rs3,760.1 million, disbursed under medium and long-term uplift purposes during eight months under review, Rs1,701.1 million have been distributed for purchase of 6,219 tractors. To off set the drought situation and to harness underground water potential resources, the bank has financed Rs869.4 million for installation of 5,765 tubewells, 12.5 per cent higher than last year.

The bank has also provided Rs37.8 million to the rural women and some other persons to supplement their household income.

The ADBP has intensified its operation for delivery of services in drought-hit areas, and has allowed rescheduling of loans in the areas, which have been declared as calamity-hit by authorities.

The bank has also concentrated on priority areas of lending in non-traditional items to not only save precious foreign exchange, but also to help attain food autarky through self-sustained agriculture growth.