Performance Tuning :: Delete No Of Records From A Table

I am using one script to delete the records from a table, its taking 1hr to delete.

declare
cursor c1 is select ownerid,ownertype from nightly_metric_projects
;
v1 c1%rowtype;
open c1;
loop
fetch c1 into v1;
exit when c1%notfound;
DELETE FROM DGT_ITEMEFFORTDATA WHERE OWNERTYPE = c1.OWNERTYPE
AND OWNERID = c1.OWNERID;
end loop;
close c1;
commit;

nightly_metric_projects--1200 records
DGT_ITEMEFFORTDATA--13200000