State Bank of Pakistan (SBP) Governor Ashraf Mahmood Wathra has announced the formation of two separate committees to scale up warehouse receipt financing and increase agri-credit in under-served provinces and regions.

Speaking at a mid-term review meeting of the Agricultural Credit Advisory Committee (ACAC) for 2014-15 in Faisalabad, he said, “During the first seven months of FY15, banks have disbursed Rs256 billion of agricultural credit and achieved 51% of the annual target of Rs500 billion, up 35% compared to the same period of last year.”

Wathra said that agriculture credit growth is on track, and it is poised to achieve over 53% of the agriculture credit demand in FY15 compared to 39% in FY10. 

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