Monday, May 20, 2024

Punjab Govt Announces Rs. 300 Billion Interest-Free Loans for Farmers

Maryam Nawaz’s agricultural package has been launched in Punjab, aiming to provide significant support to farmers in the region. This is a major initiative as it offers interest-free loans totaling 300 billion rupees within the first two years, marking the first time such a substantial financial aid package has been made available to farmers.

Punjab’s Agriculture Minister Syed Aashiq Hussain Shah Karamani announced the package, revealing that around 400 billion rupees are being invested in the overall agricultural sector of Punjab. This is a massive financial commitment that reflects the importance of agriculture in the province and the need to boost productivity and support for farmers.

In the first phase of the package, 500,000 farmers will receive interest-free loans worth 150 billion rupees. The focus is primarily on small-scale farmers who have less than 12 acres of land, as they will receive a special farmer card. This card will help streamline support and assistance for small farmers.

Furthermore, interest-free loans of 30,000 rupees per acre will be made available, which will significantly ease the financial burden on farmers. Another 100 billion rupees will be provided through subsidies and other support measures to help boost the sector.

Around 80% of small-scale farmers and cultivators are expected to benefit from this agricultural package, making it a far-reaching initiative that aims to uplift the farming community in Punjab.

The Agriculture Minister also highlighted the efforts of Chief Minister Maryam Nawaz, who has initiated 26 major development projects in just 21 days since taking office. Among these projects is the Nawaz Sharif Farmer Card, a groundbreaking program designed to provide substantial support to farmers.

Related Articles

Latest Articles