PM directs overhaul of farm lending

ISLAMABAD:

Prime Minister Shehbaz Sharif on Wednesday directed the relevant authorities to formulate a comprehensive strategy for sustainable agricultural reforms, in coordination with the provinces, aimed at significantly boosting production and lowering input costs.

Chairing a review meeting on agricultural development, the premier said the reform process would begin with the provision of easy loans to farmers under a public-private partnership model.

He also called for urgent reforms in the Zarai Taraqqiati Bank to ensure transparent and efficient disbursement of these loans.

He said that the upcoming Public Sector Development Programme (PSDP) will prioritise agricultural projects, focusing on mechanization, digitisation, easy access to credit for farmers, and a business-friendly environment.

The premier noted that sustainable agricultural reforms would further strengthen the national economy and reiterated the government's commitment to prioritizing reforms in both crop production and the livestock sector.

He said the federal and provincial governments would work in full coordination to implement the reforms and called for proposals outlining short-term and long-term strategies to improve storage capacity for agricultural commodities.

The prime minister added that agricultural development would primarily benefit farmers and rural communities, and stressed the need for expert collaboration to modernize the sector.

He directed to utilise agricultural zoning and value chain strategies to boost agricultural exports and introducing agricultural technology tailored to the needs of small landholdings, besides using integrated digital platforms to provide farmers with access to new agricultural information.

During the meeting, proposals were presented to the prime minister regarding agricultural reforms, particularly focusing on increasing agricultural production, improving infrastructure, establishing simple and sustainable regulations for a business-friendly environment, and ensuring easy access to loans for farmers.

It was told that National Agriculture Innovation and Growth Action Plan focused on increasing farmers' income, enhancing production, and implementing reforms in the right direction.

The prime minister was told that the measures were being taken to establish secure storage facilities for agricultural commodities and that a program for easy loans to farmers would be launched soon. Like other countries, Pakistan can also support farmers financially by creating a simple and transparent loan system, and artificial intelligence can be used to effectively increase per-acre yield.

The meeting was told that value addition in the agricultural sector would enhance farmers' income and generate foreign exchange through exports.

Meanwhile, the premier on Wednesday held separate meetings with key political and cabinet figures, focusing on constituency affairs, the national political landscape, and the performance of the power sector.

In one round of discussions, MNAs Muhammad Idrees and Sardar Ghulam Abbas called on the prime minister, a PM's Office statement said.

The meetings included Minister for Public Affairs Rana Mubashir Iqbal and SAPM Talha Burki.