LAHORE, Sept 26: The Punjab Fisheries Department will advance Rs50 million loans for establishing small fish farms at a nominal two per cent per annum markup.

Disclosing this here on Monday, Punjab Fisheries Minister Jam Muhammad Hashim said an agreement for advancing the loans had already been signed with the Bank of Punjab.

Loans up to Rs750,000 would be advanced on the department’s recommendation for covering 80 per cent cost of the farms spreading over 12.5 acres, the minister said. The bank would use the recoveries to extend more loans for creating a revolving fund for the purpose, he added. — Reporter