QURGHON TEPPA, July 10, Asia-Plus  -- According to chairman of Khatlon’s Bokhtar district Abduhalim Ismoilov, local farmers will repay more than 95 percent of last year’s cotton credit until end of October this year.

The district head noted that Bokhtar cotton-growing farms had repaid more than 53 percent of last year’s loans so far.

“2,500 tons of cotton fibers are currently amassed at warehouses in the district; they may be sold and proceeds will be used for repayment of loans,” Ismoilov said, noting that farming units are still waiting for rise in cotton fiber prices on international exchange.

According to him, commercial banks this year have provided loans to only seven farming units in Bokhtar.  Ismoilov also expressed dissatisfaction with the loan allocation procedure.

“The procedure of allocation of loans by banks is too long and difficult,” said the Bokhtar chairman, “They study the results of work and productivity of fields of loan applicants for the last three years and only after that they provide loans.  I consider this procedure to be incorrect.  If we want farming unit to yield good results we should help it in time.”