Punjab Chief Minister Muhammad Shehbaz Sharif announced interest-free loans worth 100 billion rupees for small cultivators. The interest on these loans will be paid by the Punjab government.
He said several farmers would benefit from this unique and splendid programme in the history of the country, and added that the interest-free loans would be distributed among small farmers through modern technology.
The chief minister said the historic programme of provision of interest-free loans of Rs.100 billion for the development of agriculture sector and prosperity of farmers would bring about a socio-economic and green revolution in the country. He said agriculture is the backbone of national economy and a guarantee to national prosperity and that increase in exports besides being a source of earning foreign exchange.
He said that prosperity of farmers would result in prosperity of Pakistan and strengthening of national economy. He said the revolutionary programme started by the government for the uplift of farmers, promotion of agriculture sector and increase in per acre yield will realise the dream of agriculture progress.
He said that the former rulers were associated with agriculture but they paid no attention to the development of this sector. He said the historic decision of provision of interest free loans of 100 billion rupees had been taken by Punjab government in the tenure of Prime Minister Muhammad Nawaz Sharif.
Shehbaz Sharif said that due to this step of the government, the sit-ins on Mall Road will now stop and the farmers should now distribute sweets as the Punjab government has given this package for the prosperity of small cultivators. He said that those sit-ins should also now come to an end as undermine national interests.
The chief minister expressed these views while addressing the signing ceremony of agreements between Punjab government and banks with regard to provision of interest free loans to small cultivators at Chief Minister’s office on Saturday.
Secretary Agriculture Muhammad Mehmood, National Bank of Pakistan President Iqbal Ashraf, Zarai Taraqiati Bank Executive Vice President Riaz-ud-Din, National Rural Support Programme CEO Dr. Rashid Bajwa and Tameer Bank President Ali Riaz Chaudhary signed the documents.
Provincial Ministers Dr. Farrukh Javed, Ayesha Ghaus Pasha, State Bank of Pakistan Deputy Governor Saeed Ahmad, Chief Secretary, bankers, agriculture experts, farmers’ representatives, intellectuals and columnists participated in the ceremony.
Speaking on the occasion, the chief minister said the agriculture had key importance in national economy, and added that farmers and agriculture economy suffered a loss during last three years as rice and cotton crop was damaged while recession in international markets and it also affected the local farmers.
He said that in view of the losses suffered by cultivators, Prime Minister Muhammad Nawaz Sharif gave a big package of Rs.40 billion and Punjab government contributed 50 per cent share. He said a compensation of Rs.5000 per acre was given to small farmers for losses caused to rice and cotton crops.
He said the federal government announced a big agriculture package in the budget this year as well which is being speedily implemented.
The chief minister said implementation of the package of Rs.50 billion had been started this year while agreement has been signed with the banks for the programme of provision of interest-free loans of Rs.100 billion. He said that it has been the point of view of cultivators that loans are given to industries and investors at the interest rate of 8 to 9 while per cent these are given to cultivators at the rate of 16 per cent.
He said the farmers had been demanding that loans should be given to them on 8 to 9 per cent interest rate as well while the government has evolved the programme of provision of interest free loans to small cultivators. He said that Punjab government itself was bearing the burden of interest on the loans given to small cultivators. He said besides small cultivators, tenants would also benefit from this programme as they have no land of their own.
Shehbaz Sharif said loans worth 25 billion rupees have been distributed among 11,00,0000 people under Khadim-e-Punjab Rozgar Scheme and their rate of recovery is 99.9 per cent. He said no country could progress without promoting small business and that the developed countries have also progressed by adopting this programme.
Provincial Minister for Agriculture Dr. Farrukh Javed, while addressing the ceremony, said the programme of provision of interest-free loans would bring a soft revolution and change lifestyle of rural people. He said the android mobile phones would also be given to the cultivators through which they will remain in contact with as well as benefit from extension services.
Provincial Finance Minister Ayesha Ghaus Pahsa said the development of agriculture sector would result in strengthening of national economy, and added that the programme started by Punjab government for the prosperity of small cultivators would be made successful with the collaboration of financial institutions.
Agriculture Secretary Muhammad Mehmood gave details of the programme, and told that loans would be given to small farmers at the annual rate of 65000 rupees per acre for Kharif and Rabi crops. Interest-free loan will be given in three installments.
’30 BLN BEING SPENT ON POTABLE WATER PROGRAMME’:
Chief Minister Shehbaz Sharif said the biggest potable water programme in the history of the country had been launched and that this project has been initiated from South Punjab. He said that a sum of Rs.30 billion is being spent on this programme this year, and added that international companies are coming for implementation of this programme and German and European consultant monitoring implementation process.
He said that water supply and drainage schemes in the past could not be successful but the schemes started by Punjab government will run successfully as the companies which are starting these schemes will operate them for five years and also train the rural youth for this purpose.
good step taking by punjab government. really appreciative and useful information.
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