ISLAMABAD: The Zarai Taraqiati Bank Limited (ZTBL) has revealed its Annual Business Plan (ABP) for the year 2008, setting a target of disbursing Rs 65 billion loans to farmers and recovering of Rs 75 billion given as loans to farmers. According to the ABP, the bank will provide Rs 65 billion loans to farmer till Dec 31, 2008, registering an increase of nine billion rupees when compared with the year 2007.
The bank has also planned to recover Rs 75 billion from different debtors which is a target more than Rs 12 billion when compared with 2007. The bank will focus on Livestock and Dairy for which two billion rupees have been allocated. The bank will particularly focus on recovery of Rs 10 billion from defaulters as this target has been increased by two folds this year. The bank will modernize its IT infrastructure as the Asian Development bank will give the bank $ 200 million for this sector.
Sources in ZBTL revealed that the bank did very well during 2007 as compared to the previous years as during 2007 the bank had a record recovery of Rs 63 billion from its customers. This recovery is 13 percent more than the bank recovery in 2006 during which only one billion rupees had been recovered from defaulters while during 2007 the bank recovered Rs 5 billion from defaulters.-SANA
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