ISLAMABAD, March 31: Zarai Taraqiati Bank Limited (ZTBL) has announced a Rs51 billion agriculture credit plan for the year 2005, a 31 per cent higher than its Rs39 billion target for the previous year.

According to an official announcement issued here on Thursday, out of the total amount, Rs35.240 billion had been allocated for farm credit to be disbursed through the revolving financing scheme and window operation to increase the production of agriculture products.

An amount of Rs17.268 billion will be disbursed among the farmers during the Rabi season, while Rs17.972 billion will be allocated for the Kharif crops.

In its annual credit plan, the bank has made a provision to provide credit to female borrowers as well in order to encourage women in the income generating activities. The bank has set a separate target of disbursing Rs125 million among country’s women only.

Apart from allocations for traditional items, ZTBL has earmarked Rs5760 million for priority items such as production of off-season vegetables, nurseries, floriculture, oilseed crops, production of improved seeds, mini/ check dams, green houses, etc.

In order to meet the water requirement of the agriculture sector, the bank provides enhanced loan for drip/sprinkle irrigation system. For water saving devices in Barani and hilly areas, the bank will provide loans for mini/check dams to use water reservoirs for irrigation purposes.