Circulars/Notifications - Agricultural Credit Department  
 Circular Letter No. ACD/  932-951 /PD(P)-08/2002
April 10, 2002 

1.The Presidents (By Name)
ABL / HBL / MCB / NBP / UBL
Head / Central Office,
KARACHI.

2. The Presidents/Chief Executives (By Name) Private Commercial Banks,
KARACHI.

3. The Chairman, (by Name)
Agricultural Development
Bank of Pakistan,
            ISLAMABAD. 

4.The Managing Director (by Name),
Federal Bank for Cooperatives,
Head Office,

ISLAMABAD

Dear Sir, 

WHEAT PROCUREMENT BY THE PRIVATE SECTOR


Please refer to our circular No. ACD.01/2002 dated the 16th January, 2002 regarding disbursement of Agricultural Loans by the banks to the farmers / flour mills for construction of wheat godowns / silos in the country.  

It has been reported by the various quarters i.e. Farmers’ Association, Chambers of Agriculture, Associations of Flour Mills that the banks are not found serious in the disbursement of Agricultural loans for construction of wheat godowns / silos as yet.  Such attitude on the part of banks has been viewed as a great concern by the State Bank due to national cause and the same is not reflecting healthy symptom for marketing / procurement of wheat crop rendering financial loss to the growers / flour mills in the form of receipt of lower prices of their agricultural produce to sell immediately for want of storage facilities.  

You are, therefore, requested to please look into the matter personally and take necessary measures to ensure disbursement of agricultural loans by your banks to needy farmers / flour mills for construction of wheat godowns / silos subject to completion of required formalities.  

            Please acknowledge receipt.

 

Yours faithfully,
(SYED ISHTIAQ ALI)

Director
 
       
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