Monday October 31, 2022

Prime Minister Announces Mega Kissan Package

Islamabad: Prime Minister Shehbaz Sharif has announced a mega Kissan Package under which farmers will be provided subsidized loans worth 1800 billion rupees.

While announcing the package along with Finance Minister, Interior Minister and Information Minister in Islamabad today, he said as compare to previous year the increase in these loans is 400 billion rupees.

The Prime Minister said to facilitate the farmers, the coalition government will provide a subsidy of over ten billion rupees to waive off mark-up fee on the loans availed by farmers of flood affected areas.

The Prime Minister said this mega package also includes loans worth 50 billion rupees for the youth of rural areas that want to invest in agriculture sector.

For this purpose, the government will provide 6.4 billion rupees as a subsidy on mark-up of loans.

The Prime Minister said after successful negotiations with the fertilizers producers, the new price of DAP has been fixed to 11250 rupees per bag. For this purpose the government negotiated a subsidy of 2500 rupees per bag with the fertilizer producers.

He said under this package five billion rupees has been fixed to provide subsidy on markup of loans that will be provided to the farmers of flood affected areas.

The Prime Minister said Small and Medium Enterprises will be regularized for investment in Agriculture sector. The SME’s interested in investment in this sector will be able to get loans on subsidized rates and for this purpose we have fixed 6.4 billion rupees. Under their modernization scheme 10 billion rupees were fixed.

The Prime Minister said keeping in view the increased prices of new tractors, the import of used tractors has also been permitted and now the farmers can import second hand tractors upto five years of their manufacture date. The subsidy on the duty of five-year old tractor will be 50 percent while the subsidy on duty fee of three-year old tractor will be 36 percent.

The Prime Minister said we have also managed to import five hundred thousand tons of Urea. He said the import of two hundred thousand tons of Urea has been completed while the remaining will be completed soon. He said for this purpose we have provided a subsidy of 30 billion rupees.

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