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Special Schemes for Gilgit-Baltistan

To reduce poverty in the Gilgit-Baltistan area and enhance business activities for the populace, the following special products/schemes have been launched.

Terms & Conditions:

Operational Jurisdiction All branches in Gilgit-Baltistan Area.
Eligibility The creditworthy and reputable farmers having the capacity to repay the loans are eligible to get financing under the said scheme. Preference will be given to new borrowers who have already experience in the subject field. However, old farmers having good repayment behavior and are familiar with the captioned activity will be considered for such loans.
Documents Required CNIC Copy, Loan Application, Agri.Pass Book/Fard Jamabandi, 2 recent photographs.
Loanable Products & their maximum loan limit

Trout Farming:

Keeping in view the scarcity of productive land in Gilgit-Baltistan, the existing requirement of land for fishpond has been relaxed from a minimum of 4 acres and a maximum of 10 acres to a minimum of 01 Kanal and a maximum of 08 Kanal. The maximum limit of the loan is Rs.1.500 million per borrower/party.

Yak Farming:

Animals reared for both meat & milk purposes have ample demand in the local market.

  1. The loan limit for Yak animal has been refixed at Rs.1,25,000/ per head.
  2. The loan limit for the Calf of Yak animal has been fixed at Rs.40,000/- per head.
  3. Working capital for Yak animal has been fixed as Rs.10,000/- per head.

Seabuck Thorn Cultivation:

Various precious items like oil, jam, and jelly are produced from the seeds of the Seabuckthorn plant. It is grown on a small scale but has cultivation potential in the area with scope for foreign exchange earnings. The loan limit has been fixed at Rs.52,000/ per acre.

Hybrid Poplar:

The loan limit has been fixed at Rs.15,000/ per acre.

Maximum Loan limit The maximum loan limit under the scheme would be up to Rs.2.500 million per borrower/party.
Borrower’s Contribution 10% of the loan amount will be deposited by the borrower as self-contribution.
Collateral Tangible properties and all other acceptable forms of securities.
Cost of Credit As per Bank’s rule.
Repayment Schedule Trout fish farming & Sea buckthorn loans are recoverable within 5 years in equal yearly installments commencing after 2 years of 1st disbursement. Yak farming loans are recoverable within 5 years in half-yearly installments with one year grace period. Hybrid Poplar loans are recoverable within 5 years in equal half-yearly/yearly installments commencing after 3 years of 1st disbursement.
Rate of Mark Up The prevailing Bank rate of markup on development loans with a 3% rebate on timely repayment is applicable.
Monitoring Strict monitoring is exercised by ensuring checking of utilization by the MCO in 100% of cases and sample checking of utilization by the Manager, Zonal Manager (Recovery), and Internal Auditor of the Bank.

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