The annual meeting of Agricultural Credit Advisory Committee (ACAC)* for FY 2019-20 was held on November 19, 2019 at Peshawar, KPK as part of SBP's continued efforts to enhance agriculture credit in the underserved provinces and regions. The meeting had two sessions; in the morning session, agriculture credit performance of FY 2018-19 was reviewed and agriculture credit targets for FY 2019-20 were ratified. In the second session, innovative ideas and investment opportunities in agriculture financing were presented which included:
The Chairman appreciated banks on surpassing agriculture. Credit target of one trillion rupees for first time in the history during FY 2018-19. The Committee also approved credit disbursement target of Rs.1,350 billion for FY 2019-20 which is 89% of the total estimated agriculture credit requirement of Rs.1,518 billion. The Chairman encouraged all stakeholders to collaborate for enhancement of formal credit to agriculture and advised banks to enhance their efforts to achieve the regional targets assigned for the year. He also advised banks to explore new investment opportunities through collaboration and experience sharing to achieve overall annual target for FY20 besides achieving their regional targets particularly in the underserved areas.
*Agricultural Credit Advisory Committee (ACAC), is a national level consultative committee set up by Government of Pakistan in 1972. The Committee is mandated to assess agriculture. credit requirement of the country, allocate disbursement targets, and consider ways to improve agriculture. credit disbursement & recovery to strengthen institutional flow of agriculture. credit. ACAC has representation from federal and provincial governments, banks, research institutes and chamber of agriculture/farmers associations. Under the Chairmanship of Governor SBP, the Committee meets bi-annually; in August/September for annual agriculture. credit performance review and allocation of next year’s targets while in February/March to have mid-term review of flow of agriculture. credit.
Click here to view SBP's Presentation on Annual ACAC