PESHAWAR, Jan 4: The Pakistan Tobacco Board (PTB) will facilitate grant of agricultural production loans to tobacco growers by banks. According to a PTB press release issued on Wednesday, the board has urged banks to provide loans to tobacco growers against the agreements executed with them by the tobacco companies.

The loans given to the growers could be recovered through banks on vouchers issued by the companies to the growers.

The chief manager, State Bank of Pakistan, Peshawar, advised the banks to meet genuine credit requirements of tobacco growers in time as per the Prudential Regulations of Agriculture Credit and their own credit policies.

The tobacco growers having executed agreements with the tobacco companies and interested in securing loans are advised to approach the designated bank branches/PTB offices in their areas.

The board has already requested the banks in the tobacco growing areas to ensure smooth flow of loans to tobacco growers.

A joint meeting of the Local Agriculture Advisory Committee of the State Bank was recently held at the bank’s Peshawar office, where problem confronted by tobacco growers in securing the loans were discussed. ——APP