PPCBL advances Rs 1.48 billion loans

The Punjab Provincial Cooperative Bank Ltd (PPCBL) advanced Rs 1.48 billion agriculture loans for sowing, growing and maturing Rabbi crops including strategic wheat, grams, lentils oil-seeds, maze, vegetables and fodder for livestock till 31st December 2015. The bank has earmarked Rs 2.5 billion for lending till 31st January 2016 to facilitate the farmers for boosting production of winter crops.
This was stated by the President/CEO of the cooperative bank Muhammad Ayub here on Thursday. He said these loans have been extended to 42,045 farmers through 8,296 cooperative societies. Ayub said the bank is actively pursuing recovery of the old and non-performing loans. The bank has so far recovered more than Rs 1.5 billion that is 82.8 percent of the loans given for the 2015 Kharif crops including cotton, rice and potato. He has instructed the bank's field staff to make all out efforts for recovery of the old and non-performing loan.