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State Bank issues master circular for agriculture loans scheme

KARACHI (July 02 2003) : The State Bank of Pakistan on Tuesday issued a comprehensive circular on Agriculture Loans Scheme to facilitate the availability of such circulars, instructions and rules for the benefit of participating banks, provincial co-operative banks, provincial governments, farmers associations and others.

In compliance with the provisions contained in Section 8 (3) of the SBP Act 1956, State Bank of Pakistan has to ensure availability of the adequate and timely banking credit to the agricultural sector, besides creating awareness and uplifting the living standard of the rural community, said a circular issued by the SBP.

State Bank of Pakistan introduced Agricultural Loans Scheme in 1972 as a part of its regulatory/monitoring and supervisory responsibilities.

The said scheme was introduced through different instructions/circulars/ amendments/rules issued by the State Bank of Pakistan from time to time.

In order to facilitate the availability of such circulars/instructions/ rules for the benefit of participating banks, provincial co-operative banks, provincial governments, farmers associations, other internal and external stakeholders, Agricultural Credit Department has consolidated all the existing instructions/circulars, etc on agricultural loans scheme in the form of one comprehensive master circular.

Efforts have been made to consolidate all circulars, instructions, rules, etc on the agricultural loans scheme.

However, there is a possibility that some of the circulars and instructions may have been missed.

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