Kisan Bank to serve punjab farmers: CM

LAHORE:

Punjab Chief Minister Maryam Nawaz Sharif on Wednesday announced plans to establish an 'Apna Kisan Bank', subsidised agricultural loans worth Rs17 billion and an increase in financing under the Kisan Card scheme to support farmers.

The measures were announced during a meeting with representatives of small, medium and large farmers from across Punjab.

Farmers will be offered loans of up to Rs10 million without markup, up to Rs30m at two per cent and loans up to Rs50m at 5% interest.

The chief minister announced an increase of Rs3,500 per acre in the Kisan Card loan limit for purchasing diammonium phosphate (DAP) fertiliser from Rs30,000 to Rs33,500.

She said the government would ensure payment of the wheat support price of Rs4,500 per maund in coordination with federal authorities.

The CM said Rs17 billion in subsidised loans would benefit farmers cultivating around five million acres.

She added that the government had resisted pressure to impose agricultural income tax on farmers and was committed to protecting their interests.

The chief minister said the Kisan Card had helped farmers access fertiliser, seeds and pesticides without middlemen.

More than a million small farmers were benefiting from the scheme, she said, adding that digitalisation had improved transparency in the disbursement of loans.

The chief minister said 25,000 tractors had been provided on subsidy.

Announcing that the Green Tractor Scheme would be expanded, she said Rs70b had been allocated for high-tech agricultural mechanisation.

She said the initiative was encouraging the establishment of agricultural machinery factories and local production of tractors ranging from 85 to 100 horsepower.

She announced plans to establish agro-parks in Sargodha, Bhakkar, Khanewal and Okara to improve returns for farmers.

Facilities for grading, processing and storing mangoes, kinnows, oranges and potatoes were being developed to promote value addition and exports, she said.

The chief minister said Punjab would seek to export value-added products, including pasta, following an increase in wheat production.

An online portal would be launched to digitise wheat procurement, while the government would soon launch its procurement plan, she said.

The CM said the government was taking strict action against water theft to ensure supply to the tail-end of irrigation channels, irrespective of a farmer's financial or social standing. Around 400 mini-dams have been built in the Potohar region, with a target of increasing the number to 1,000.

The government is also working to line watercourses to reduce wastage and promote irrigation efficiency.

The chief minister announced a Potohar Transformation Package to promote olive cultivation, saying subsidies were being provided to encourage production.

She urged farmers not to burn crop residue to help prevent smog and said the government would continue its campaign against water theft and measures to clean irrigation canals.

She said the government was also working to extend the Kisan Card scheme to farmers cultivating land on lease or tenancy.

Mobile soil-fertility and water-testing laboratories have been launched and the government also plans to strengthen livestock fattening and agricultural extension services.

"The wheel of Pakistan's economic progress cannot move forward without Punjab's farmers," she said, describing the province as the country's food basket that met around 70% of its requirements.

Provincial Agriculture and Livestock Minister Ashiq Hussain Kirmani said the government was establishing a harvester assembly and a tractor manufacturing plant in Punjab.

 

Highlight

The chief minister announced expansion of loan subsidy and card financing for farmers