KARACHI, Nov 29: The State Bank on Wednesday said that it had formulated draft guidelines for fisheries financing.

These guidelines are aimed at increasing the flow of credit to fisheries sector that promises rich returns to the fishermen, banks and the economy as a whole; ensuring enhanced and sustained access of affordable financial services to fisheries sector, attracting investment in infrastructure and fish processing units.

The SBP said it will substantially increase fish catch both from marine as well as fresh water and also encouraging for pond fish production.

The draft guidelines have been sent to the key stakeholders including Pakistan Banks Association (PBA), banks, chambers of agriculture, fisheries representatives, ministry of food, agriculture and livestock (Minfal) and provincial agricultural, livestock and fisheries departments for comments and feedback by December 10, 2006.