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Budget 2017-18: Govt sets aside Rs 1,001 billion for loans to small farmers

06:00 PM | 26 May, 2017
Budget 2017-18: Govt sets aside Rs 1,001 billion for loans to small farmers
ISLAMABAD - The federal government has announced to provide Rs1,001 billion loans to small farmer under budget for fiscal year 2017-18.

Finance Minister Ishaq Dar presented the budget for upcoming fiscal year on Friday in Islamabad.   He said that agricultural credit will be extended at 9.9pc on Rs50,000 amount to farmers who hold 1.2m acres of land.

He added that the government will give subsidy on imported fertilizer. The Urea will be sold at Rs1,400 per bag, while prices of other fertilizers will also be kept constant through subsidies

The State Bank will also help link the banking system to the land record management system to facilitate farmers in securing loans, Dar said.

Extending facilities to farmers, the finance minister said that tube wells will be provided subsidised electricity.

Lending rate for farmers will now be reduced from an average of 14-15% to 9.9%, says Dar.

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Currency Rates in Pakistan Today - Pak Rupee to US Dollar Open Market rates 8 May 2024

Pakistani rupee rates against US Dollar and other currencies on May 8, 2024 Wednesday in open market.

USD to PKR rate today

US dollar was being quoted at 277.5 for buying and 280.25 for selling.

Euro stands at 294.5 for buying and 297 for selling while British Pound rate is 345 for buying, and 348.5 for selling.

UAE Dirham AED was at 75 and Saudi Riyal's came down to 73.25.

Today’s currency exchange rates in Pakistan - 8 May 2024

Currency Symbol Buying Selling
US Dollar USD 277.5 280.25
Euro EUR 294.5 297
UK Pound Sterling GBP 345 348.5
U.A.E Dirham AED 75 75.8
Saudi Riyal SAR 73.25 74
Australian Dollar AUD 180 182
Bahrain Dinar BHD 739.99 747.99
Canadian Dollar CAD 203 205
China Yuan CNY 38.43 38.83
Danish Krone DKK 40.16 40.56
Hong Kong Dollar HKD 35.61 35.96
Indian Rupee INR 3.34 3.45
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 905.3 914.3
Malaysian Ringgit MYR 58.71 59.31
New Zealand Dollar NZD 167.23 169.23
Norwegians Krone NOK 25.57 25.87
Omani Riyal OMR 722.7 730.7
Qatari Riyal QAR 76.44 77.14
Singapore Dollar SGD 204.65 206.65
Swedish Korona SEK 25.79 26.09
Swiss Franc CHF 307.34 309.84
Thai Bhat THB 7.56 7.71

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