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Commodity financing down to Rs 25 billion in first quarter fiscal year 2011.
Byline: RIZWAN BHATTI
Posting an increase of Rs 77 billion in the last fiscal year 2010, the outstanding stocks of commodity financing have registered a decline of Rs 25 billion during the initial months of current fiscal year (2010-11). Sources in banking sector told Business Recorder that outstanding stock of commodity finance was expanded by Rs 77 billion in fiscal year 2010 as compared to a rise of Rs 209 billion in fiscal year 2009.
Most of the contribution in this lower expansion of commodity operations came from lower disbursements made under wheat advances, as the Pakistan Storage and Supply Corporation (Passco) and provincial food departments have already …
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