The Kissan package submitted by the Ministry of National Food Security and Research was accepted by the Economic Coordination Committee (ECC) of the Cabinet.
Senator Mohammad Ishaq Dar, Minister of Finance, presided over the Economic Coordination Committee meeting in Islamabad and approved numerous summaries, including the Kissan package.
The package includes increasing the number of farm loans disbursed from 1,419 billion to 1,802 billion, lowering the price of DAP from 13,750 rupees per bag to 11,250 rupees per bag, and providing interest-free loans to upgrade three lac tube wells from conventional to solar power.
The Ministry of Energy’s Petroleum Division provided a summary of the High-Speed Diesel/Gas Oil premium and mentioned that the ongoing sowing season and recovery operations following the country’s floods have significantly raised the demand for HSD.
The forum also took into account the Ministry of Energy’s Power Division summary on standardized security package agreements for large-scale solar PV projects to replace pricey imported fossil fuel-based power generation under the framework, and it approved the summary with the exception of the summary’s proposed special payment mechanism and quarterly indexation.
After a thorough discussion, the ECC approved the Finance Division’s proposal to change the name of the Prime Minister’s Kamyab Jawan-Youth Entrepreneurship Scheme to the Prime Minister’s Youth Business & Agriculture Loan Scheme in order to make it more useful and advantageous for agriculture and small businesses.
An Rs47 billion grant to the Election Commission of Pakistan (ECP) for general elections was postponed at the meeting.
The electoral watchdog will submit a new summary for the technical grant’s approval.
