The Presidents / Chief Executive Officers
All Banks
Dear
Sirs / Madam,
Enhanced
Indicative Per Acre Credit Limit for Agriculture Financing
In
line with the Government’s priority for the
development of agriculture sector and to ensure availability
of adequate and timely credit to the farming community,
State Bank of Pakistan has enhanced indicative per
acre credit limits on an average of 70% for major
& minor crops, orchards and forestry. The enhancement
in limit has been made on the basis of current prices
of inputs like seed, fertilizer, pesticides, fuel,
electricity, etc.
Further to facilitate farmers in getting loans for
growing of orchards and agro forestry, year wise per
acre indicative credit limits for growing of orchards
viz. mango, citrus, apple, banana, coconut, dates,
guava, etc. and agro forestry viz. acacia, shesham,
bamboo, etc. have also been provided. The enhanced
indicative per acre credit limits are attached at
Annexure I.
The
enhanced per acre credit limits are indicative in
nature and banks are allowed to finance lower or higher
than the limits based on actual credit requirements
of specific farmers, market conditions and prices
of farm inputs.
Banks
are advised to circulate the above instructions to
its branches immediately for compliance.
Please
acknowledge receipt.
Encl:
As above