ISLAMABAD, June 2: The Zarai Taraqiati Bank Limited (ZTBL) has increased the maximum rates of credit fixed for agricultural equipments, attachments and implements in order to enable the farmers to purchase agricultural machinery.

According to a press release issued here on Friday the maximum rates have been enhanced in order to encourage farm mechanisation, which plays a vital role in increasing farm productivity.

The increase credit rates will facilitate the farmers to use more agricultural machinery and farm implements.

The maximum rate for the front blade of a 50 HP tractor has been enhanced from Rs31,500 to Rs37,000; for 60 HP and above tractors from Rs32,500 to Rs44,000; for multipurpose real blade from Rs17,500 to Rs20,000; for land planner (leveller) from Rs19,000 to Rs29,000; for scraper (size 6-10 blade) from Rs40,000 to Rs60,000; for disc plough (3 discs fixed) from Rs37,000 to Rs45,000; and for reversible disc plough from Rs30,000 to Rs42,000.

The field staff of the ZTBL has been advised to sanction loans according to the actual genuine prices prevailing in different parts of the country but not exceeding the maximum limits fixed by the bank. They have also been directed to ensure that financing of these items is feasible and economical and the payment of loan instalment can be made by the borrowers from the additional income.