Interest-Free Loans for New Machinery
Interest-Free Loans for New Machinery. New era of modern agricultural development — Chief Minister Maryam Nawaz’s agricultural reforms. A new sun has risen in Punjab’s farming industry. Chief Minister Maryam Nawaz Sharif has taken a revolutionary step towards transforming the agricultural sector through a multi-billion-rupee modern program. Recently, in a high-level meeting, she approved new agricultural development schemes, which include the provision of interest-free loans and the purchase of modern machinery
Agricultural Mechanization Project
The “Green Punjab… Happy Farmers Program” was the first to provide more than 23,000 agricultural equipment, levelers, and other machines. It accelerates agricultural mechanization, on which about Rs 13.4 billion was spent
Bank of Punjab Loans
Under a similar scheme, the Bank of Punjab is soon going to accept applications for interest-free loans for farmers. The limit of these loans will be up to Rs 3 million interest-free, to increase production through the purchase of modern agricultural machinery.
Second phase: Rs 100 billion loan program
In a meeting, Chief Minister Maryam Nawaz approved the launch of the second phase for the agriculture sector. Under this, interest-free loans of Rs 100 billion will be given to small and medium farmers so that they adopt modern methods
Establishment of agricultural malls and full-fledged facilitation centers
Along with this, model agricultural malls will be fully functional in Multan, Bahawalpur, and Sargodha by July 2025, where facilities like seeds, fertilizers, machinery, training, financial assistance, and marketing will be provided under one roof
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Other supporting projects
Apart from consolidation, the following schemes are under implementation:
- About Rs. 9 billion has been allocated for solarization of agricultural tubewells (8000 tubewells converted from diesel/electric to solar), and subsidies are being given on different power (kW) systems
- Distribution of super seeders that destroy paddy residue in a modern way — considered to be helpful in smog control and air purification
- Graduation program for agricultural graduates — Under this, youth are being equipped with modern farming by providing training and guidance in the field
“Kisan Card” to facilitate purchases
Under the Kisan Card scheme, millions of farmers have been given easy access to seeds, fertilizers, pesticides, and machinery. It has become an interest-free loan program worth hundreds of billions of rupees. More than 5 lakh farmers have been verified, and plans to acquire more than 7.5 lakh are underway
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Conclusion
The comprehensive and broad-based measures that the Punjab government has initiated for agricultural reforms and farmers’ welfare under the leadership of Chief Minister Maryam Nawaz are truly historic. Projects like providing interest-free loans of up to Rs 30 lakh through Bank of Punjab, second-phase loans of up to Rs 100 billion, model agricultural malls, solarized tube wells, and super seeders are exposing farmers to modern technology. Its strong effects will be evident in the form of increased agricultural production in Punjab, reduced costs, and improved farmers’ income. Our agricultural future is bright, and farmers are becoming stronger.
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