The ECC also approved a relief package for farmers in flood-hit areas under which growers will get free seeds and fertilisers during the Rabi crop sowing season. The package also entails soft loans for holder of 25 acres of agricultural land at eight per cent mark-up. The remainder mark-up of 5.5 per cent will be borne by the government. However, the Punjab government will compensate growers holding less than 25 acres at the rate of Rs2,400 per acre. Half the amount will be paid by the federal government while the other half will be paid by other provinces.
Sources told this correspondent that during the next season, the government will buy 6.5 million tons of wheat directly from growers, adding that the meeting’s duration was cut short by Friday prayers. They said that the next ECC meeting will discuss gas load management and various issues regarding sugar prices. Other summaries, they said, will also be discussed during the next ECC meeting.
Published in The Express Tribune, October 30th, 2010.
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