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July 2024

Punjab Kisan Bank to be established to provide easy loans to farmers

LAHORE –  In a bid to provide easy loans to the farmer, a principled decision to establish the Punjab Kisan Bank was made, the sources close to the development said on Friday.

The decision was made in a meeting with Punjab Chief Minister Maryam Nawaz and Pakistan Muslim League-Nawaz (PML-N) President Nawaz Sharif in the chair.

Both Maryam Nawaz and Nawaz Sharif, the sources said, were given detailed briefing on the Kisan Package.

The meeting also reviewed the solarization of tube wells and the drip irrigation system.

During the meeting, a historic package for farmers, including the “Punjab Kisan Bank, Green Tractor Scheme, local manufacturing of harvesters and agricultural equipment, and Oilseed Promotion Program,” was announced.

The “CM Punjab Green Tractor Scheme” was also approved for farmers.

Punjab CM Maryam rejected the proposal of a mere six lakh rupees subsidy on tractors and instructed a 70% subsidy on small tractors and a 50% subsidy on large tractors.

On the suggestion of Mian Nawaz Sharif, the number of tractors under the Punjab Green Tractor Scheme was increased by 10,000.

CM Maryam Nawaz ordered the completion of the first phase of the Punjab Green Tractor Scheme within a year and made a principled decision to provide more tractors every year under the scheme.

The Chief Minister also approved the locally manufactured High-Tech Mechanization Program. Foreign companies, in local collaboration, will manufacture harvesters and other equipment in Punjab. The proposal to offer incentives to foreign companies for manufacturing modern agricultural equipment in Punjab was considered.

During the meeting, the approval was also given to start the Oilseed Promotion Program in Punjab. Different regions of the province will be encouraged to produce oilseeds.

CM Maryam said that for the first time, a farmer package worth 400 billion rupees is being given in Punjab. Through the Kisan Card, farmers will be provided with agricultural inputs as well as other benefits and facilities. The prosperity of every farmer and the increase in agricultural production are among our top priorities.

Senior Provincial Minister Maryam Aurangzeb, Provincial Ministers Sohaib Ahmed Malik, Syed Ashiq Hussain, Special Assistant Rashid Nasrullah, Chief Secretary Zahid Akhtar Zaman, Agriculture Secretary Iftikhar Sahoo, and other relevant officials were present. QR Code

Published Date: June 14, 2024

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