Lahore: The Government of Punjab has decided to allocate funds worth PKR 9 billion for farmers in the upcoming provincial budget for the fiscal year (FY2019-20), a news source reported.
Under the prime minister’s agricultural scheme, the government will provide wheat, rice, cotton, and fertilisers on subsidised rates in a bid to facilitate the farmers.
Last month, the provincial government introduced an agricultural credit scheme for small farmers who own up to 50 acres of arable land under the National Rural Support Programme (NRSP).
Under this initiative, the Punjab Agriculture Department will provide interest-free loans to farmers owning 25 acres of arable land. Similarly, farmers owning up to 50 acres of land will be issued loans at low mark-up rates.
The rules make it mandatory for farmers to get their record digitised at the land records centres concerned. The department will only issue loans to those individuals who have fulfilled the requirements.
