KARACHI - Agricultural credit disbursement by banks surged by 13.11 per cent on year-on-year basis to Rs 255.027 billion in the first eleven months (July-May) of the current fiscal year (2011-12), said State Bank of Pakistan here on Tuesday. SBP said in absolute terms, disbursement of credit to the agriculture sector increased by over Rs 29.566 billion in July-May, 2012 when compared with total disbursement of Rs 225.461 billion in the same period of the last fiscal year.Bank said overall credit disbursement by five major commercial banks including Allied Bank Limited, Habib Bank Limited, MCB Bank Limited, National Bank of Pakistan and United Bank Limited stood at Rs 132.385 billion in July- May, 2012 compared with Rs 123.100 billion disbursement in July-May, 2011 depicting an increase of Rs 9.285 billion or 7.54 percent.Zarai Taraqiati Bank Limited, the largest specialized bank, disbursed a total of Rs 54.174 billion in July- May, 2012, down by 0.34 percent when compared with Rs 54.359 billion disbursed in the same period of the last fiscal year. Punjab Provincial Co-operative Bank Limited disbursed Rs 6.826 billion in July- May, 2012 up 38.69 percent when compared with Rs 4.921 billion disbursement in the same period of the last fiscal year, the bank added.Bank said fourteen domestic private banks also loaned a combined amount of Rs 51.678 billion in July- May, 2012 up by 19.96 percent.Five Microfinance banks including Khushhali Bank Ltd., NRSP Microfinance Bank Ltd., The First Microfinance Bank Ltd., Pak Oman Microfinance Bank Ltd. and Tameer Microfinance Bank Ltd. disbursed a total of Rs 9.963 billion in July- May, 2012 period.It may be pointed out that the State Bank of Pakistan for the first time has given an indicative target of Rs 12.20 billion to Microfinance banks for disbursement of credit to agriculture sector during the current fiscal year.