Centre to collaborate with provinces for agri package implementation

Published June 4, 2020
FAISALABAD: A farmer works in his field. The government has announced a pro-farmer package while the agriculture sector is targeted to grow by 2.9 per cent next year.—APP
FAISALABAD: A farmer works in his field. The government has announced a pro-farmer package while the agriculture sector is targeted to grow by 2.9 per cent next year.—APP

ISLAMABAD: The federal government will collaborate with the provinces at all levels for successful implementation of the Rs37 billion Agricultural Fiscal Package, Minister for National Food Security and Research Syed Fakhr Imam said during a review meeting on Wednesday.

The pro-farmer package includes subsidy on fertilisers, cotton seed and white-fly pesticides. It also includes reduced bank markup on agricultural loans as well as sales tax subsidy on locally manufactured tractors.

Under the agriculture package, subsidy to the tune of approximately Rs37bn is offered to farmers on the purchase of fertilisers. Similarly, diminution in markup of agriculture loans to farmers at the total cost of Rs8.8bn and subsidy on cotton seed at a cost of Rs2.3bn and white fly pesticides at Rs6bn were approved.

The package would also include Rs. 2.5bn subsidy on sales tax on the locally-manufactured tractors for a period of one year. All banks in the scheme, including Zarai Taraqiati Bank Limited, will enhance the outreach of farmers with focus on subsistence farmers with a land holding of 12.5 acres.

“The federal government has made available Rs5bn for the deserving vulnerable segments of farmers and now implementation requirements have to be met by the provincial governments. Pakistan has an ability to encourage organic fertilisers that play an important role in sustaining the agriculture system,” Imam said.

Published in Dawn, June 4th, 2020

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

‘Source of terror’
Updated 29 Mar, 2024

‘Source of terror’

It is clear that going after militant groups inside Afghanistan unilaterally presents its own set of difficulties.
Chipping in
29 Mar, 2024

Chipping in

FEDERAL infrastructure development schemes are located in the provinces. Most such projects — for instance,...
Toxic emitters
29 Mar, 2024

Toxic emitters

IT is concerning to note that dozens of industries have been violating environmental laws in and around Islamabad....
Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...