LODHRAN, Nov 04 (APP): In a transformative move for livestock farming, the Punjab government is set to launch interest-free loan for livestock farmers.
The registration for this initiative will start from November 5, announced Additional Director Livestock, Lodhran, Dr. Tauseef.
He said that as part of the innovative program, farmers will be eligible for interest-free loan ranging from Rs 135,000 to Rs 270,000 for a period of five months. The loan is designed to support farmers with five to ten calves or heifers, ensuring that small to medium-scale farmers could benefit from government aid in growing their livestock businesses.
Applicants must be residents of Punjab and possess a valid National Identity Card with registered, active mobile phone SIM in the applicant’s name.
The applicants must have at least five to ten calves or heifers. Farmers with more than ten animals are also eligible, but loan assistance will be limited to ten animals.
The loan amount will be disbursed monthly and could only be used via the Livestock Card at Bank of Punjab’s approved feed dealers. Livestock farmers could use it to buy animal feed, such as silage, vanda and mineral mixtures.
The Punjab government will bear any interest or additional charges, ensuring the entire loan remains interest-free for farmers.
The program is designed to provide crucial financial relief and operational support to Punjab’s livestock farmers, empowering them to improve the quality and quantity of livestock. The program also encourages sustainable development by making resources accessible for better animal care and productivity.
The loan facility will be awarded on a first-come, first-served basis to eligible applicants who fulfill all requirements.
