Chief Minister Maryam Nawaz Sharif has launched a 150 billion Farm Loan Scheme to support Punjab’s agricultural sector, providing financial assistance for Rabi and Kharif crops, aiming to provide hope to agriculturalists in the region.
Key Highlights of the Punjab Farm Loan Scheme:
The Punjab Farm Loan Scheme has allocated $150 billion to support farmers, demonstrating a significant commitment to agricultural development.
Chief Minister Maryam Nawaz has instructed the agriculture department to implement a robust monitoring and feedback system to ensure the efficient distribution of loans. Approval has been granted for the recruitment of agriculture officers and field assistants, bolstering the department’s operational capacity.
A $500 million research endowment fund has been sanctioned for the Ayub Research Centre, showcasing the government’s dedication to agricultural innovation and advancement. Proposed amendments to the Fertilizer and Pesticide Acts demonstrate a proactive approach to addressing regulatory gaps and enhancing agricultural productivity.
Former Prime Minister Nawaz Sharif has stressed the importance of water conservation, proposing measures to reduce wastage and improve efficiency in irrigation practices. The scheme also includes legislative amendments to address regulatory gaps and enhance agricultural productivity.
The Punjab Farm Loan Scheme, led by Chief Minister Maryam Nawaz Sharif, is aimed at enhancing the agricultural sector in Punjab. The scheme includes amendments to the Fertilizer and Pesticide Acts, which aim to improve the regulatory framework for agricultural inputs. Eligibility criteria are being simplified to make it easier for farmers to access loans.
The scheme is expected to provide financial support for farmers to cultivate Rabi and Kharif crops, strengthen the agricultural sector through streamlined monitoring and feedback mechanisms, and enhance operational capacity through the recruitment of agriculture officers and field assistants.
It also promotes innovation and advancement in agriculture through research endowment funds, improves the regulatory framework, and increases agricultural productivity through legislative amendments. Farmers can contribute to water conservation efforts by adopting efficient irrigation practices, implementing water-saving technologies, and adhering to sustainable water management techniques.