NBP disburses Rs 45,789.5 million as agriculture credit among farmers
Tuesday, 02 April 2013
ISLAMABAD: The National Bank of Pakistan (NBP) has disbursed Rs 45,789.5 million as agriculture credit among nearly 241,296 farmers during 2012 against a target of Rs 43,200 million”, a statement of the Bank issued here said.
According to the statement of the Bank, out of total 1,294 domestic online branches, 875 are involved in catering the needs of farmers, while offering complete range of commercial banking services to farmers.
The NBP said that the loans disbursed can be divided into two categories – production and development.
Under the first category loans are disbursed mainly for the procurement of seeds, pesticides, fertilizers and leveling land, whereas the second category covers purchase of tractors, agricultural implements and construction of modern storage facilitates, cattle farms and poultry farms etc and providing running finance for catering day to day requirements.
The National Bank of Pakistan has converted its entire network of 1294 branches online, the bank said.
The Bank now has the largest number of online branches in Pakistan, exceeding any other bank operating in the country. National bank of Pakistan currently enjoys widest branch network in the country and its services are available to Pakistanis living in far-flung and most difficult to reach areas.
People living in such remote areas will benefit the most from this development.
The National Bank of Pakistan (NBP) was incorporated in Pakistan under the National Bank of Pakistan Ordinance, 1949.
The bank is involved in commercial banking and related services in Pakistan and has one of the largest domestic branch networks consisting of 1294 branches across Pakistan. It also has as well as 23 overseas branches and representative offices in 4 countries worldwide with unique footprint in South Asia, Central Asia and the Middle East.
As the world is talking about food security, Pakistan just can’t remain aloof. The country aimed at achieving food security that is not possible without addressing the issues faced by farmers. Agriculture is the backbone of Pakistan economy and contributes around 21% to Pakistan’s GDP and directly supports three-quarters of the country’s population, employs half of the labor force and also contributes a large share in country’s total exports.
Pakistan has one of the world’s largest man-made irrigation systems.
It is among the top five largest cotton producing countries, 3rd largest herd of livestock and is the 5th largest producer of milk. It is 5th largest producer sugarcane and dates and 6th largest producer of mangoes and the largest producer of kinnows and enjoys significant share in global rice trade.
Realizing the importance of this segment, NBP gives an important position to agriculture sector and plays a pivotal role in agriculture financing. Source Associated Press of Pakistan.
Published: Zarai Media Team