Interest-Free Loans And Transfer Of Tubewells To Solar! | Punjab Budget 2024-25
Interest-Free Loans And Transfer Of Tubewells To Solar
Mr. Speaker, the improvement of agriculture and the prosperity of farmers are crucial for the overall well-being of the nation. Agriculture contributes 23% to the national GDP and accounts for 37% of Pakistan’s total labor force. Moreover, it provides raw materials for various industries and boosts foreign exchange earnings through the export of agricultural products. Recently, there has been a lot of misinformation about our agricultural policies. Our government has decided to abandon old and outdated practices that not only exploit farmers but also harm agriculture and the economy as a whole. By the grace of Allah, we have curbed corruption in wheat procurement. Considering the current wheat stock situation, we have focused all our attention on directly benefiting the farmers. As a result, our government is introducing the largest farmer support package in the history of the country.
5537 0f Revolutionary Policies and Budget Allocations
Mr. Speaker, the coming fiscal year will be a revolutionary one for agriculture. The development budget for the agricultural sector in the upcoming fiscal year is set at 64.6 billion rupees, which is 27% more than the previous fiscal year. Over the past three years, the increase in prices of agricultural inputs like fertilizers, seeds, pesticides, diesel, and electricity has made farming a significant economic challenge, especially for small farmers who cannot buy these inputs at market rates. Consequently, they rely on commission agents and other exploitative credit sources. To address this, our government has launched the revolutionary Punjab Farmers Card program, which will provide interest-free loans amounting to 75 billion rupees to 500,000 farmers.
Sustainable and Technological Advancements
Furthermore, we are initiating the Chief Minister’s Program for the Solarization of Agricultural Tubewells, with an investment of 9 billion rupees to convert 7,000 tubewells in Punjab to solar power. This initiative will not only increase agricultural productivity but also save 88 million liters of diesel and 83 million units of electricity annually, thereby reducing environmental pollution. Additionally, we are establishing model agricultural malls in Punjab at a cost of 1.25 billion rupees, which will help farmers reduce production costs and increase yields through new technology and modern practices. Mr. Speaker, with the help of modern tractors, farmers can manage land cultivation and crop maintenance more efficiently. However, buying these tractors places a financial burden on farmers. To alleviate this, our government is launching the Chief Minister’s Punjab Green Tractor Program, with an investment of 30 billion rupees, to provide tractors to farmers at subsidized rates.
FAQs
What is the significance of agriculture in Pakistan’s economy?
Agriculture contributes 23% to Pakistan’s GDP and employs 37% of the country’s labor force. It also provides raw materials for various industries and boosts foreign exchange earnings through agricultural exports.
What are the key components of the largest farmer support package in Pakistan’s history?
The package includes interest-free loans for farmers, modernization of agricultural practices, curbing corruption in wheat procurement, and the introduction of the Punjab Farmers Card program.
Maryam Nawaz Important Decision
How much has been allocated for the agricultural sector in the upcoming fiscal year’s budget?
The development budget for the agricultural sector in the upcoming fiscal year is 64.6 billion rupees, which is 27% more than the previous fiscal year.
What challenges have farmers faced due to increased prices of agricultural inputs?
The rise in prices of fertilizers, seeds, pesticides, diesel, and electricity over the past three years has made farming a significant economic challenge. Small farmers, in particular, struggle to afford these inputs at market rates and often rely on commission agents and exploitative credit sources.
What is the Punjab Farmers Card program?
The Punjab Farmers Card program is an initiative by the government to provide interest-free loans amounting to 75 billion rupees to 500,000 farmers, helping them purchase essential agricultural inputs.
What is the Chief Minister’s Program for the Solarization of Agricultural Tubewells?
This program involves converting 7,000 agricultural tubewells in Punjab to solar power at a cost of 9 billion rupees. It aims to increase agricultural productivity, save 88 million liters of diesel and 83 million units of electricity annually, and reduce environmental pollution.
What benefits will the model agricultural malls in Punjab provide to farmers?
The model agricultural malls, established at a cost of 1.25 billion rupees, will help farmers reduce production costs and increase yields through access to new technology and modern practices.
What is the Chief Minister’s Punjab Green Tractor Program?
This program, with an investment of 30 billion rupees, aims to provide modern tractors to farmers at subsidized rates, helping them manage land cultivation and crop maintenance more efficiently and alleviating the financial burden of purchasing tractors.