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Today's Paper | November 27, 2024

Published 01 Jul, 2004 12:00am

MARDAN: Loans under new package refused

MARDAN, June 30: Local growers of Mardan have expressed their doubt about the success of recently announced agricultural package. Led by Suhail Bachahh, a group of local farmers told reporters at the Mardan Press Club that the Zarai Taraqiyati Bank officials had refused to entertain their applications under the new package announced by President Pervez Musharraf on June 12.

They demanded an end to the 'pass book' system for small loans. Under the package, the interest rate has been reduced to 9 per cent and growers paying back their loan in time have been offered eight per cent rate.

But, the local growers complained, the Zarai Taraqiyati Bank officials 'plead that no circular regarding the various concessions offered under the package had reached them'.

When growers visit the bank and seek loans according to the new package, the officials refuse to entertain them, while often lead to brawls. Suhail said that up to now, small loans were given on two persons' guarantee, "but now the government has introduced a pass book system, which has blocked the way of getting loans from banks."

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