ISLAMABAD – Prime Minister Shehbaz Sharif Monday unveiled a massive relief package for farmers, who are considered as a backbone of the country, saying loans worth Rs1,800 billion will be disbursed to revamp the agriculture sector.
Addressing a press conference along with Finance Minister Ishaq Dar and other cabinet members, the premier said that a special package has also been prepared for rehabilitation of famers and agriculture in flood-hit areas.
This year, deluges triggered by abnormal mosoon rains sunk one third of the South Asian country under water, damaging crops and livelihood, with experts fearing that Pakistan might face shortage of wheat in next season.
PM Shehbaz said that subsidized loans worth Rs5 billion will be distributed among flood-hit farmers, who do not own agricultural land, adding that smalls loans will also be written off in the affected areas.
He said that Rs10 billion has been set aside for small and medium enterprises in agriculture sector under the relief package that has also allowed the import of used tractors for five years.
He said that 500,000 tons urea will be imported, adding that the price of DAP per bag had been reduced by Rs2,500.
The premier announced that 1.2 million bags of certified seeds of wheat will be distributed among farmers in the flood-hit areas, adding that both the federal and provinces will arrange funding of Rs13.20 billion for it.
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