Circulars/Notifications - Agricultural Credit Department  
 ACD Circular No. 2/PD(P)-08/2002
March 20, 2002 

All commercial Banks 

Dear Sir,  

SUPERVISED AGRICULTURAL CREDIT SCHEME. 

            Please refer to our circular letter No./1035-1039/PD(P)-08/2001 dated 25th April, 2001 on the captioned subject.           

In order to meet the increased demand for development loans under the Agricultural Mandatory Credit Targets of the commercial banks, it has been decided to withdraw the existing maximum limit of 15% for development loans against the total mandatory credit targets (Main Agriculture) of a bank fixed by the State Bank of Pakistan with immediate effect. This relaxation has, however, been made initially for a period of one year ending 30th June, 2003. Banks are now free to extend development loans as well as production loan to other than small farmers upto 50% of their targets (Main Agriculture) subject to the condition that they shall ensure to make financing of the remaining 50% of their mandatory credit targets to small farmers for production / crop loans.  

            Please acknowledge receipt.

 

 

Yours faithfully,
(SYED ISHTIAQ ALI)
Director
       
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