PM’s Kisan Package to help farmers, benefitting national economy

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ISLAMABAD, Oct 29 (APP): Pakistan Muslim League-Nawaz (PML-N)
government’s ‘Kissan Package’ has been design help improving farmers and also benefitting national economy.
Talking to APP, an official ministry of National Food Security and
Research,on Thursday said Prime Minister Muhammad Nawaz Sharif has announced a package of Rs 147 billion as direct benefit while Rs 194 billion had been allocated for agriculture loans.
He said agriculture sector, a backbone of the economy and top most priority of the government for bringing revolution in the sector.
He said the country’s development was directly linked to the uplift of
its agriculture sector, particularly the farmers.
The relief package has been designed in four parts, including direct
financial cooperation to farmers, relief in agricultural costs, provision
of agricultural loans and facilitating the process of obtaining loans, he
said.
He said the farmers, who cultivates rice and cotton at upto 12.5 acres
of land would be paid cash support of Rs 5,000 per acre each. The government, on this facility, will bear the cost of Rs 20 billion each for rice and cotton crops.
To a question, he said government has also announced Rs 20 billion fund to reduce prices of potassium and nitrate fertilisers, almost by Rs 500 per bag.
He said solar tubewells would be provided on interest free loans to the farmers, who own up to 12.5 acre of land. The mark up of seven years would be paid by the federal government with a cost of Rs 14.5 billion.
He said this would ensure a saving of Rs 1,600 and Rs 500 per day for the farmers running tubewells on diesel for five hours daily and on petrol for same duration, respectively.
He said the government would provide Rs 30 billion as the fifty percent guarantee to banks on loans. This will benefit around 0.3 million farmer households through Rs 0.1 million each with collateral loans.
He said the Zarai Taraqiati Bank Limited and commercial banks would provide one-window facility to the farmers seeking loans.
He said the value of production unit had been increased from Rs 2,000 to Rs 4,000 which would help farmers to get double amount of loan against their land value.
He said the government was fully aware of the difficulties faced by the farmers and would take all steps to facilitate them.