Kharif crops: PPCBL allocates Rs 2.5 billion advances

The Punjab Provincial Co-operative Bank Ltd has allocated Rs 2.5 billion for advancing agriculture loans for sowing, growing and maturing Kharif crops including cotton, rice, sugarcane, fodder, summer vegetables and fruit orchards. This was stated by President /Chief Operating Officer of the bank Muhammad Ayub here on Monday. He said the bank will start loaning from 1st April 2016. The bank extended loans worth Rs 1.77 billion for the Rabi crops 2015-16 through 9,752 co-operative societies to 49,728 small farmers. He said the bank has recovered loans amounting to Rs 1.78 billions that is 98.2 percent of the advances extended for the previous Kharif crops.