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Need for diversified lending for agriculture uplift stressed

ISLAMABAD (August 04 2007): Zarai Taraqiati Bank Ltd (ZTBL) must now focus on increased and diversified lending for development purposes for long-term agricultural prospects and its uplift. This was stated by the President ZTBL Mansur Khan in a two days Zonal Chiefs conference held here on Friday.

He said, `We have avenues and scope of increased financing for tractors, tube wells, irrigation facilities, silos type godowns for timely storage of farmers` produce to yield good return to them`.

Besides production loans, due emphasis must be paid on diversified lending particularly development purposes which is needed to balance long-term sustainability of agriculture led growth. Development loans being long-term investment cost less with diversified risk factors over a period of time and hence add to the institutional viability also, said the President.

Mansur Khan also stressed upon the need for expanded outreach by identifying new borrowers and initiate new products and services which are commercially viable for financial sustainability of the bank. He said that State Bank of Pakistan has assigned a target of 508,475 borrowers and Zonal Chiefs are expected to extend their outreach to meet the target.

The Conference was attended by 25 Zonal Chiefs and 6 audit heads from all over the country besides senior executives from the head office. Earlier the President noted with satisfaction overall disbursement and recovery operations of first six months ie January-June 2007 and appreciated disbursement of Rs 32.1 billion (Growth of 13 percent over corresponding period last year) as against actual targets of Rs 28.5 billion.

He also appreciated overall recovery of Rs 36.4 billion (growth of 38 percent over corresponding period last year) against Rs 26.4 billion recovered last year during this period ie Rs 10 billion more (the highest ever).

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