Pakistan Agriculture News

Farmers hit hard as govt fails to provide loans

MULTAN: The provincial government failed to fulfill its promise of providing agricultural loans worth Rs100 billion to farmers of South Punjab. The delay and increase in prices of fertilisers has resulted in decrease in total yield of crops.

Two years ago, the government had declared an interest-free loan scheme to facilitate the farmers.  For the purpose, thousands of farmers submitted applications but they have not been provided the loans as yet.

Besides, the financial conditions of the farmers could not improve after the announcement of farmers’ package costing Rs341 million from federal government. The current situation has created a financial crisis for the farmers and they are now looking forward to the Punjab government to provide loans as promised.

Earlier, Chief Minister Shehbaz Sharif said that farmers will be provided interest-free loans of Rs100 billion and smartphones to equip them with latest technology.

The package was divided into two parts. In the first phase, Rs75,000 will be given to the farmers in three installments of Rs25,000 per acre for the cultivation of wheat crop. In the second phase, total Rs0.12 million will be given in three installments of Rs40,000 per acre for the cultivation of rice crop.

However, even after two months, the Punjab government failed to implement the announced package.