Financial institutions in the country disbursed loans of Rs. 1.1 trillion to the agriculture sector during the first half (July-December 2023) of the current fiscal year 2023-24 (FY24).
According to the data issued by the State Bank of Pakistan (SBP), financial institutions have achieved 49 percent of the annual indicative agriculture credit target of Rs. 2,250 billion set by the central bank during the first half of FY24.
In the first half of FY24, financial institutions disbursed loans of Rs1,106 bn in agriculture sector, achieving 49% of the annual indicative agriculture credit target of Rs2,250 bn set by #SBP. Major beneficiaries were livestock & dairy, crops and poultry sectors. #AgriFinance pic.twitter.com/pKKZ06RWGz
— SBP (@StateBank_Pak) January 31, 2024
According to the breakdown of the agriculture financing during July-December 2023, the livestock and dairy sector received loans of Rs. 271 billion or 24 percent of total disbursements.
Loans of Rs. 246 billion and Rs. 174 billion were disbursed for crops and poultry respectively. Another Rs. 415 billion was disbursed for other purposes to the agriculture sector.
Stay Connected with ProPakistani
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
