MULTAN, Apr 23 (APP):Vice President, Pakistan Central Cotton Committee (PCCC), Dr. Muhammad Ali Talpur said on Friday that federal government has unveiled an over Rs 10 billion relief package for cotton farmers throughout the country encompassing subsidies on agriculture implements and special relief on loans from Zarai Taraqiati Bank Limited (ZTBL) to give a much needed boost to cotton and improve financial standing of farmers.
In a statement issued through spokesman for Central Cotton Research Institute (CCRI) Multan Dr Talpur said that federal minister for national food security Syed Fakhar Imam, federal secretary Ghufran Memon and other officials had been busy day and night finalizing a special package for cotton farmers. “Rs 10 billion funds have been released today to all provinces to enable them extend subsidy to cotton farmers as per their discretion and procedure,” the release said.
Giving province-wise funding details, Dr. Talpur said that Punjab has been released Rs 5 billion for subsidy on DAP, Rs 127 million to Khyber Pakhtunkhwa (KPK), Rs 430 million to Balochistan and Rs 2.5 billion to Sindh.
Farmers would be able to avail Rs 1500 subsidy per DAP bag. A sum of Rs 3 billion was meant for subsidy on pure and high yielding cotton seed which included Rs 114 million for Punjab, Rs 0.42 million for KPK, Rs 111 million for Balochistan and Rs 1.2 billion for Sindh. Farmers would be able to avail Rs 1200 subsidy per acre of cotton field.
Allocation for pesticides to be used against white fly showed that Rs 114 million was meant for Punjab, Rs 0.45 million for KPK, Rs 118.26 million for Balochistan, and Rs 1.2 billion for Sindh. This subsidy would be extended to farmers at the rate of Rs 1200 per acre.
VP PCCC said that a sum of Rs 7 billion has been earmarked by the federal government for providing relief to cotton farmers and Rs 4 billion funds have already been released to ZTBL for the purpose. This subsidy would be applicable from July 2020 scheme. Under this initiative, mark up relief would be extended to farmers owning 12.5 acres or less land.
Dr. Muhammad Ali Talpur said that federal government would keep extending benefits to farmers during the season by utilizing already allocated funds.