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Punjab to provide interest-free loans to cultivators: Punjab Chief Minister

Lahore, August 21, 2016 (PPI-OT): Punjab Chief Minister Muhammad Shahbaz Sharif presided over a high level meeting, here today which accorded approval to the programme of provision of soft-term interest-free loans to the cultivators. Addressing the meeting, Shahbaz Sharif said that Punjab government, according to its promise, has made a programme of provision of soft-term interest-free loans to the farmers under which billions of rupees will be distributed among the cultivators. He said that with the implementation of this programme, agriculture sector will progress while small farmers become prosperous.

He said that soft-term interest-free loans of billions of rupees will be given to the farmers for crops of Rabi and Kharif in the province and five lakh small farmers will benefit from this programme. The farmers having 12.5 acres of land will be eligible for acquiring loans, he added. The Chief Minister said that Punjab government will distribute interest free loans of billions of rupees among the cultivators through banks and financial institutions and will bear all mark-ups in this regard.

He said that agriculture is of paramount importance in national economy and a major portion of population is associated with it. He said that besides provision of relief to the farmers, special attention is being paid to research and development for increasing per acre yield while Punjab government has announced a historic farmer package of Rs.100 billion for development of agriculture sector and provision of relief to the farmers.

He said that every penny of historic farmer package will be given to the farmers for the uplift of agriculture sector and prosperity of farmers. Shahbaz Sharif said that interest of farmers is dear to him; therefore, excellent package has been given for the welfare of farmers and protection of their interests. He said that Prime Minister Muhammad Nawaz Sharif has also given a comprehensive Kissan package for the welfare of farmers and improvement of agri sector.

He said that farmers are his brothers who produce grain from the soil through their hard work. It is our basic responsibility to save farmers from recession in agri sector at international level, he added. The Chief Minister directed Chairman Planning and Development to consider setting up of Punjab Agriculture Foundation.

He said that establishment of agriculture stock exchange is also need of the hour and proposals should be presented after consideration in this regard. Secretary Agriculture gave a detailed briefing regarding programme and procedure of provision of interest-free agriculture loans. Provincial Ministers Rana Sanaullah, Ayesha Ghaus Pasha, Farrukh Javed, Chief Secretary, Presidents of National Bank, Bank of Punjab, Zari Taraqqiati Bank, Taameer Bank and concerned officers were present on the occasion.

For more information, contact:
Chief Minister of Punjab
Chief Minister Secretariat
7-Club Road
GOR-I, Lahore
Tel: +92-42-99204906-14, +92-42-99203222-3
Fax: +92-42-99204915, +92-42-99203224
Website: www.cm.punjab.gov.pk

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