The federal government has despite the challenging times made available Rs 5 billion 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 fertilizers that play an important role in sustaining the agriculture system. This was stated by Federal Minister for National Food Security, Syed Fakhar Imam while chairing the meeting on agricultural fiscal package with provincial agriculture secretaries on Wednesday. The mode of implementation of the package was also discussed with provinces. A multi-billion agriculture package has been approved for farmers with subsidy on fertilizers, cotton seed and white fly pesticides; reduced bank markup on agricultural loans, in addition to sales tax subsidy on locally manufactured tractors. Under the agriculture package, subsidy to the tune of approximately Rs. 37 billion is offered to farmers on the purchase of fertilizers. Similarly, under the agriculture package, diminution in markup of agriculture loans to farmers at the total cost of Rs. 8.8 billion and subsidy on cotton seed at a cost of Rs. 2.3 billion and white fly pesticides at Rs. 6 billion were approved. The package would also include Rs. 2.5 billion subsidy on sales tax on the locally-manufactured tractors for a period of one year.
Ministry for successful implementation of agriculture fiscal package
The federal government has despite the challenging times made available Rs 5 billion 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 fertilizers that play an important role in sustaining the agriculture system. This was stated by Federal […]
