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Five Islamic Banks as a group achieved 78.8% of their annual target of Rs 50.0 billion by disbursing Rs 39.4 billion which is Rs 23 billion higher than the disbursement made during the corresponding period last year.
According to the State Bank of Pakistan, agricultural credit disbursement during FY19 had witnessed an increase of 21pc over the last one year.
The SBP said that integrated efforts by central bank, financial institutions and other stakeholders including federal and provincial governments helped achieve disbursement targets.
With today's disbursement, the EU has now provided Tunisia with e1/4650 million in MFA funds since 2015, it indicated.
Actual infrastructure disbursements in the first quarter of this year amounted to 207.2 billion pesos," he added.
Actual infrastructure disbursements during the first quarter of 2019 amounted to only P207.2 billion, according to the DOF.
The NEITI review attributed the reduction in FAAC disbursements to drop in oil prices.
Of the total number of beneficiaries last year, 68.2 percent or 222,551 are employee-members with total disbursements amounting to P5.98 billion.
Diokno said infrastructure and services pushed spending and disbursements last year.
In the backdrop of the government's budgetary initiatives for promotion of agriculture sector, SBP has assigned the indicative agriculture credit disbursement targets of Rs 1,001 billion to 52 participating institutions including 19 Commercial banks, 2 Specialized Banks, 5 Islamic Banks and 11 Microfinance banks and 15 Microfinance Institutions/Rural Support Programmes (MFIs/RSPs).
This means that the disbursement percentages of IDA and MDTF will be changed for the first year of the AF, while funding will be all MDTF in the last 3 years of the AF.
Owing to the low disbursements, the central bank's official gross foreign currency reserves have remained under pressure.
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