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Rural Development Scheme by ZTBL: The Clutched Handshake between ZTBL and Azad Kashmir Small Industries Corporation 

01 Junie 2011 09:48:16

Rural Development Scheme by ZTBL:

The Clutched Handshake between ZTBL and Azad Kashmir Small Industries Corporation

The Zarai Taraqiati Bank Limited of Pakistan and Azad Kashmir Small Industries Corporation have signed a memorandum to provide credit assistance for dairy, poultry, sheep & goat farming in the rural areas of Azad Jammu & Kashmir.

 

Sources told INFN, the scheme shall be implemented in the entire area of Azad Jammu and Kashmir through network of ZTBL branches and Azad Kashmir small industries corporation.

 

The source further told that, the equity contribution should be 10% of the project cost and mark up rate is 9% per annum with 1 % rebate on timely repayment, as the method of collateral should depend on the system of Tangible Properties.

The maximum credit limit should be 1.000 million per borrower/party and the payment recovery period for poultry farming is within 5 years in half yearly instalments commencing one year after 1st disbursement of loan, and for dairy/livestock farming the limit is within 5 years in half yearly instalments commencing six months after 1st disbursement of loan, the source added.