Prime Minister Shehbaz Sharif has unveiled a special package for the agriculture sector costing Rs 1,800 billion with the intention to stimulate farm production and ensure a sufficient level of grower income, mainly in the flood-affected areas of the country.
The package was announced at a press conference in Islamabad that would ensure the provision of free seeds and inexpensive loans in addition to bringing down fertilizer prices and electricity for tube wells in the flood-hit areas.
The prime minister said that the package was intended at providing relief to the flood-hit people of the country.
Responding to the Kissan package budget besides considering the money while considering the IMF program, Finance Minister Ishaq Dar stated that all the items of the relief package were taken care of.
Most of the items are budgeted and funded and hopefully we will not have any problem with IMF, the minister said.
?See Dar would plead with the IMF; if I repeat a sentence in the English language then the discussion would divert to politics so lets leave it but we are doing our best for it, PM told the media men.
Under the package, the premier said the coalition government had decided that Rs 1,800 billion worth of loans would be given to farmers, which was an increase of Rs 400 billion as compared to the previous year.
Besides, the PM said that Rs 10 billion had been assigned to waive interest costs on loans to small farmers, while Rs 8 billion had been allocated for flood-stricken farmers.
Talking about the rural areas, the premier said Rs 50 billion subsidized loans would be given to young entrepreneurs in the agriculture sector, continuing that small and medium enterprises in the agriculture sector would also be provided Rs 10 billion loans for modernization schemes.
Landless farmers in the flood-stricken areas would be given Rs 5 billion, PM revealed.
In addition, 1.2 million bags of certified seeds would be given to flood-hit farmers. It will have an impact of Rs 13.2 billion and 50% contribution each would come from the federation and the provinces, he added.
Shehbaz Sharif also announced the import of second-hand tractors up to 5 years old would be allowed with an upper limit of 50% duty rebate.