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GoP Markup Subsidy Scheme (GMSS)

The government of Pakistan in collaboration with SBP has launched markup subsidy schemes for the farmers/borrowers of rain/flood affected areas, for farm and non-farm sectors ZTBL being participating Bank in the scheme, has launched the subject titled scheme, the key features of which are as under.

Terms & Conditions:

Operational Jurisdiction The scheme will be applicable in flood-affected areas only.
Eligibility Criteria
  1. All existing and new subsistence landholding farmers in flood-affected areas notified by NDMA/PDMA are eligible.
  2. Clear e-CIB Report.
  3. Obligor’s Risk Rating (ORR) up to 4.
  4. Defaulters of ZTBL or any other Financial Institution are not eligible for financing under the scheme.
Documents Required
  1. Loan Application.
  2. Valid CNIC.
  3. Agri. Passbook/Fard Jamamadi/Alienability Certificate.
  4. Recent Photographs (2).
Maximum Credit Limit The maximum per borrower/party loan limit under the scheme would be up to Rs. 0.500 million.
Rate of Mark up
  1. The markup rate for this scheme has been fixed by the GOP as KIBOR + 3% p.a.
  2. No markup (0%) markup on loans will be paid by the borrowers.
  3. The government of Pakistan will repay the markup claims to the Banks @ KIBOR + 3% p.a. payable to the Bank upon lodging of claim with the State Bank of Pakistan every quarter.
Sanction of Loan Loans under the scheme will be sanctioned by the Central Loan Sanctioning Department (CLSD) at Head Office up to Rs. 0.500 million.
Collateral The loan would be secured against all types of tangible properties/securities acceptable to the Bank including Agri. Land.
Cost of Credit As per Bank’s Rules.
Repayment   Schedule Short-term production/working capital loans will be recovered within 18 months after the first disbursement of the loan.
  1. Monitoring of the scheme will be done by the respective Bank authorities.
  2. System-based checks and controls will ensure the availability of the scheme in only flood-affected areas of the country as declared by the NDMA & PDMA.