Punjab Kisan Bank for issuing easy loans to farmers in the offing

The Punjab government has decided to establish Punjab Kisan Bank for issuing easy loans to farmers, reported 24NewsHD TV channel on Friday.

Besides establishment of Punjab Kisan Bank, Green Tractor Scheme, harvester and agricultural equipments’ manufacturing at local level and Oilseed Promotion Program have also been announced.

The meeting chaired by Punjab Chief Minister Maryam Nawaz Sharif and Pakistan Muslim League (PML-N) President Muhammad Nawaz Sharif got detailed briefing on the Kisan package.

The meeting gave approval of "CM Punjab Green Tractor Scheme" for farmers.

However, Chief Minister Maryam Nawaz Sharif rejected the proposal of only Rs600,000 subsidy on tractors.

Chief Minister Maryam Nawaz directed to give 70 percent subsidy on small tractors and 50 percent on big tractors.

It was briefed that on the suggestion of Muhammad Nawaz Sharif, the number of tractors under the Punjab Green Tractor Scheme was increased to 10,000.

Chief Minister Maryam Nawaz Sharif ordered to complete the first phase of Punjab Green Tractor Scheme in one year.

It was decided in principle to give more tractors under Punjab Green Tractor Scheme every year.

Owners of six acres to 50 acres of land will be eligible to apply for tractors, said in briefing.

Chief Minister Maryam Nawaz also approved the high-tech mechanization program developed at the local level.

Foreign companies will manufacture harvesters and other equipment in Punjab with local collaboration.

It also proposed to give concessions to foreign companies for manufacturing modern agricultural equipment in Punjab.

The meeting also gave approval to start oilseed promotion program in Punjab.

Production of oil products in different areas of the province will be encouraged.

Chief Minister Maryam said that for the first time in Punjab, a farmer package of Rs400 billion is being given.

Apart from agricultural inputs, farmers will also get other incentives and facilities through Kisan Card, Maryam Nawaz said.

Prosperity of every farmer and increase in agricultural production are among our top goals, Maryam Nawaz added.

Solarization of tubewell and drip irrigation system were also reviewed in the meeting.

It was told in the briefing that 47000 farmers have registered for Kisan Card in 48 hours.

Senior Provincial Minister Maryam Aurangzeb, Provincial Ministers Sohaib Ahmed Malik, Syed Ashiq Hussain, Special Assistant Rashid Nasrullah, Chief Secretary Zahid Akhtar Zaman, Secretary Agriculture Iftikhar Sahu and other relevant officials were also present in the meeting.

Reporter: Rao Dilshad Hussain