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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, Euro, Dirham, Riyal 19 May 2024

Pakistani currency rates against US Dollar and other currencies on May 18, 2024 (Saturday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.4 for buying and 280.35 for selling.

Euro stands at 297 for buying and 299.5 for selling while British Pound rate is 348.5 for buying, and 352 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.

Today’s currency exchange rates in Pakistan - 19 May 2024

Currency Symbol Buying Selling
US Dollar USD 277.4 280.35
Euro EUR 297 299.5
UK Pound Sterling GBP 348.5 352
U.A.E Dirham AED 75.25 76
Saudi Riyal SAR 73.5 74.25
Australian Dollar AUD 181 183
Bahrain Dinar BHD 747.77 755.77
Canadian Dollar CAD 203 205
China Yuan CNY 38.49 38.89
Danish Krone DKK 40.25 40.65
Hong Kong Dollar HKD 35.96 36.31
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 913.28 922.28
Malaysian Ringgit MYR 58.69 59.29
New Zealand Dollar NZD 169.45 171.45
Norwegian Krone NOK 25.67 25.97
Omani Riyal OMR 730.59 738.59
Qatari Riyal QAR 76.41 77.11
Singapore Dollar SGD 203 205
Swedish Korona SEK 25.67 25.97
Swiss Franc CHF 309.01 311.51
Thai Baht THB 7.57 7.72

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