Punjab Chief Minister Maryam Nawaz has announced the establishment of the province’s first Apna Kisan Bank, alongside a Rs17 billion subsidised financing package aimed at supporting farmers. The initiative is intended to make agricultural credit more accessible and reduce the financial pressure on growers.
Under the proposed structure, farmers will be able to access loans of up to Rs10 million without markup. Financing of up to Rs30 million will carry a two per cent interest rate, while loans of up to Rs50 million will be offered at five per cent interest through the Punjab Urban Unit.
Alongside the new bank, the Punjab government has increased the Kisan Card financing limit for purchasing DAP fertiliser by Rs3,500 per acre. This raises the available amount from Rs30,000 to Rs33,500, giving farmers additional support towards an essential agricultural expense.
Maryam Nawaz also said the provincial government would coordinate with federal authorities to ensure the wheat support price of Rs4,500 per maund is implemented. The announcement comes as farmers prepare for the wheat cultivation season and face the costs associated with seeds, fertilisers and other inputs.
The government's agricultural plans also include an allocation of Rs70 billion for high-tech farming machinery and the expansion of the Green Tractor Scheme. Maryam Nawaz said 25,000 tractors had already been provided to farmers through subsidies, while local manufacturing of agricultural machinery was also being encouraged.
New agro-parks are planned for Sargodha, Bhakkar, Khanewal and Okara. These facilities are expected to improve the grading, processing and storage of crops such as mangoes, kinnows, oranges and potatoes, helping farmers reduce losses and explore better opportunities for value-added exports.
Punjab Chief Minister Maryam Nawaz has announced the establishment of the province’s first Apna Kisan Bank, alongside a Rs17 billion subsidised financing package aimed at supporting farmers.
Punjab Chief Minister Maryam Nawaz has announced the establishment of the province’s first Apna Kisan Bank, alongside a Rs17 billion subsidised financing package aimed at supporting farmers. The initiative is intended to make agricultural credit more accessible and reduce the financial pressure on growers.
Under the proposed structure, farmers will be able to access loans of up to Rs10 million without markup. Financing of up to Rs30 million will carry a two per cent interest rate, while loans of up to Rs50 million will be offered at five per cent interest through the Punjab Urban Unit.
Alongside the new bank, the Punjab government has increased the Kisan Card financing limit for purchasing DAP fertiliser by Rs3,500 per acre. This raises the available amount from Rs30,000 to Rs33,500, giving farmers additional support towards an essential agricultural expense.
Maryam Nawaz also said the provincial government would coordinate with federal authorities to ensure the wheat support price of Rs4,500 per maund is implemented. The announcement comes as farmers prepare for the wheat cultivation season and face the costs associated with seeds, fertilisers and other inputs.
The government's agricultural plans also include an allocation of Rs70 billion for high-tech farming machinery and the expansion of the Green Tractor Scheme. Maryam Nawaz said 25,000 tractors had already been provided to farmers through subsidies, while local manufacturing of agricultural machinery was also being encouraged.
New agro-parks are planned for Sargodha, Bhakkar, Khanewal and Okara. These facilities are expected to improve the grading, processing and storage of crops such as mangoes, kinnows, oranges and potatoes, helping farmers reduce losses and explore better opportunities for value-added exports.
