All Targets Set For Kharif Crops Production Achieved, Surpassed: SBP Report

State Bank of Pakistan (SBP) Friday in its first quarterly report for fiscal year 2018 on the state of national economy Friday said all the targets set for the production of major crops during the Kharif season had been either achieved or surpassed

ISLAMABAD, (UrduPoint / Pakistan Point News - 19th Jan, 2018 ) :State Bank of Pakistan (SBP) Friday in its first quarterly report for fiscal year 2018 on the state of national economy Friday said all the targets set for the production of major crops during the Kharif season had been either achieved or surpassed.

According to the report, with the exception of cotton, other major kharif crops achieved or surpassed the fiscal year 2018 targets. The improvement was supported by sufficient water availability, healthy fertilizer off take and an encouraging increase in agricultural credit disbursements.

The large-scale manufacturing also experienced a 10 percent high growth during first quarter of fiscal year 2018, which was the highest quarterly growth since 2009.

The performance was encouraging as all sectors, barring fertilizer, contributed positively.

This broad-based growth can be attributed to better energy availability, improved security situation and rising consumer demand on the back of higher purchasing power and access to affordable credit facilities, it added. The healthy performance of commodity producing sectors had a positive impact on the services sector as well, the report reveled.