Socialist Party (PS) newly elected president Francois Hollande gives a speech

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• Karachi, May 21 PPI: Agricultural credit disbursement by banks surged by 15.29 percent on year-on-year basis to Rs 223.845 billion in first ten months (July-April) of current fiscal year (2011-12). In absolute terms, credit disbursement to agriculture sector increased by over Rs 29.688 billion in July-April, 2012 when compared with total disbursement of Rs 194.157 billion in same period of last fiscal year, State Bank of Pakistan said Monday. Overall credit disbursement by five major commercial banks including Allied Bank Limited, Habib Bank Limited, MCB Bank Limited, National Bank of Pakistan & United Bank Limited stood at Rs 120.415 billion in July-April, 2012 compared with Rs 107.720 billion in July-April, 2011 depicting increase of Rs 12.695 billion or 11.79 percent. Zarai Taraqiati Bank Limited, largest specialized bank, disbursed total of Rs 43.906 billion in July-April, 2012, up by 0.51 percent when compared with Rs 43.681 billion disbursement in same period of last fiscal. Punjab Provincial Cooperative Bank Limited disbursed Rs 6.352 billion in July-April, 2012 up 39.81 percent when compared with Rs 4.543 billion disbursement in same period of last fiscal. Fourteen domestic private banks also loaned combined amount of Rs 44.143 billion in July-April, 2012 up by 15.52 percent compared with Rs 38.213 billion disbursement in same period of last fiscal year. Five Microfinance banks including Khushhali Bank Ltd., NRSP Microfinance Bank Ltd., The First Microfinance Bank Ltd., Pak Oman Microfinance Bank Ltd. & Tameer Microfinance Bank Ltd. disbursed total of Rs 9.030 billion in July-April, 2012. SBP for first time has given indicative target of Rs 12.20 billion to Microfinance banks for credit disbursement to agriculture sector during current fiscal year. SBP set indicative agricultural credit disbursement target of Rs 285 billion for current fiscal.
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