Kisan Bank to provide easy loans to farmers
In a significant move to support farmers, the Punjab government has decided to establish the Punjab Kisan Bank, aiming to provide easy loans and financial aid. This initiative is part of a broader plan to enhance agricultural productivity and support farmers in Punjab.
Key Announcements
Punjab Kisan Bank
A decision to create the Punjab Kisan Bank was made in a meeting chaired by Punjab Chief Minister Maryam Nawaz and Pakistan Muslim League-Nawaz (PML-N) President Nawaz Sharif. The bank will offer easy loans to farmers, aiding them in their agricultural endeavors.
Comprehensive Kisan Package
During the meeting, several initiatives were announced under the Kisan Package:
- Green Tractor Scheme: Providing subsidies on tractors to support farmers.
- Local Manufacturing of Harvesters and Equipment: Promoting the production of agricultural machinery within Punjab.
- Oilseed Promotion Program: Encouraging oilseed production across different regions.
Green Tractor Scheme
Approval and Subsidies
The Green Tractor Scheme, approved by CM Maryam Nawaz, includes:
- 10,000 Tractors in the First Phase: Increased from an initial proposal based on suggestions by Nawaz Sharif.
- 70% Subsidy on Small Tractors: To make high-quality machinery affordable.
- 50% Subsidy on Large Tractors: Providing significant financial relief to farmers.
Implementation
The first phase of the scheme is set to be completed within a year, with plans to supply more tractors annually.
High-Tech Mechanization Program
The government approved the High-Tech Mechanization Program, encouraging foreign companies to collaborate locally and manufacture harvesters and other advanced agricultural equipment in Punjab. This initiative includes offering incentives to foreign companies to boost local manufacturing.
Oilseed Promotion Program
To diversify and enhance agricultural production, the Oilseed Promotion Program will encourage the cultivation of oilseeds across various regions in Punjab. This program aims to increase oilseed production, contributing to the agricultural sector’s growth.
Financial Support for Farmers
400 Billion Rupees Farmer Package
CM Maryam Nawaz announced a historic 400 billion rupees package for farmers. This package will be delivered through the Kisan Card, providing farmers with necessary agricultural inputs and other benefits.
Kisan Card Benefits
The Kisan Card will offer:
- Agricultural Inputs: Ensuring farmers have access to essential supplies.
- Additional Perks: Various facilities to support the overall well-being and productivity of farmers.
Meeting Attendees and Discussions
The meeting included notable attendees such as Senior Provincial Minister Maryam Aurangzeb, Provincial Ministers Sohaib Ahmed Malik, Syed Ashiq Hussain, Special Assistant Rashid Nasrullah, Chief Secretary Zahid Akhtar Zaman, Agriculture Secretary Iftikhar Sahoo, and other relevant officials. Discussions covered the solarization of tube wells and the implementation of a drip irrigation system.
Conclusion
The establishment of the Punjab Kisan Bank and the approval of the Green Tractor Scheme are monumental steps towards enhancing Punjab’s agricultural sector. By providing substantial subsidies on tractors and easy loans through the Kisan Bank, the government aims to boost farmers’ productivity and economic well-being. This initiative, led by CM Maryam Nawaz, reflects a strong commitment to supporting both small and large-scale farmers, fostering prosperity within Punjab’s agricultural community.
Quick Details in Table
| Aspect | Details |
| Scheme Name | Green Tractor Scheme 2024 |
| Approved By | Maryam Nawaz Sharif and Mian Muhammad Nawaz Sharif |
| Number of Tractors | 10,000 in the first phase |
| Subsidy on Small Tractors | 70 percent |
| Subsidy on Large Tractors | 50 percent |
| Completion of the First Phase | Within one year |
| Eligibility Criteria | Farmers with 6-50 acres of land, CNIC holder, Punjab resident |
| Registration | Details to be announced soon |
The Punjab government’s new initiatives aim to revolutionize the agricultural sector, providing much-needed support to the farming community and driving economic growth in the region.