Agriculture credit disbursement grows by 28.5% in 8 months



Agriculture credit disbursement witnessed a 28.5 percent growth during the first eight months of current fiscal year.

as compared to the disbursement of the corresponding period of last year as the government provided an amount of Rs1,073.5 billion to the farming community for uplift of the country’s agriculture sector, considered backbone of the national economy.

During the period from July-February, 2022-23, the agriculture credit disbursement recorded at Rs1,073.5 billion, which was Rs 835.3 billion during same period of the last year, according the Monthly Economic Update and Outlook for March-2023 released by the Ministry of Finance.

For the Rabi crops’ season 2022-23, the harvest of wheat crop has been started in Sindh, while it was scheduled to be harvested in Punjab by the end of March, whereas the Kissan package is expected to bode up the crop productivity in the aftermath of flood damages. However, the issued related to climate changes would play a critical role in achieving the target.

More importantly, the government has increased the wheat support price from Rs 2,200 to Rs3,900 per 40 kg to incentivize the local farmers.—APP