SBP launches 3 NWFP-specific schemes

PESHAWAR (APP) - State Bank of Pakistan (SBP) has launched four special schemes with three NWFP specific for the facilitation of farmers and traders of the militancy affected province. The four schemes include write-off/remission of the agricultural loans of the farmers of Malakand Division and FATA, Agricultural loans refinancing and guarantee schemes for war affected areas of NWFP, FATA, One-window operation for Agricultural Loaning Pilot Project Phase-II and exchange/repayment of charred currency notes resulting from bomb blasts. Chief Manager State Bank Banking Services Corporation (SBBSC) Peshawar Tasleem Qazi will brief media on the four schemes initiated by the central bank on Monday (Dec 21) at 11:00 A.M. In the briefing the Chief Manager will deliberate on the relief package announced by PM Yusuf Raza Gilani for remission/write off of small farmers agriculture loans (farm and non-farm). agriculture loans refinancing and guarantee scheme for water affected area of NWFP and FATA, one-window operation for agriculture loaning Pilot Project Phase-II and Exchange/repayment of charred currency notes resulting form bomb blasts. Under the first package, agriculture loans of small farmers having outstanding balances as on 30.6.2009 of the districts of Malakand Division viz. Swat, Buner, Shangla, Lower Dir, Upper Dir, Malakand and Chitral and FATA (Bajaur Agency, Kurram Agency and Khyber Agency) would be written off/waived and the cost thereof would be borne by the federal govt. Under the second scheme of agriculture loans refinancing and guarantee scheme for water affected areas of NWFP and FATA for obtaining fresh loans from banks to resume agricultural activities, it has been decided that banks except ZTBL are allowed to obtain following refinance facility against their agriculture production/working capital loans to the farmers of Swat, Lower Dir, Upper Dir, Malakand, Buner, Chitral and Shangla districts of NWFP and FATA for the purpose of agricultural activities. The loans would be disbursed on soft terms at reduced mark-up rate of 8% per annum. The third scheme is launching of one-window operation for agricultural Pilot Project Phase-II to facilitate farmers in getting of loans without any hindrance, State Bank of Pakistan has initiated the scheme in districts of Swabi, Mardan and Mansehra for the Rabi season crops 2009-10.

ePaper - Nawaiwaqt