After the agriculture industry was severely impacted by flooding and excessive rains, the prime minister, Shehbaz Sharif, launched the Kissan package for farmers.
At a news conference alongside other federal ministers, Prime Minister Shehbaz Sharif said that for the current fiscal year 2022–2033, the government would lend Rs. 1800 billion to farmers.
The markup on the loans given to farmers in flood-affected areas has been canceled, and the government has set aside roughly Rs11 billion in this regard, the prime minister said when outlining the Kissan package’s specifics.
The premier added that the federal and provincial governments would also give small farmers in flood-affected areas more than Rs8 billion.
Additionally, he offered loans worth Rs. 50 billion for young people in rural areas who want to become professional farmers. “The government will set aside roughly Rs6.5 billion for this effort, and the loans to youths would be supplied on a markup less than the market rate,” he continued.
Noting that commercial banks typically stay well clear of lending to small farmers and businesspeople in favor of safe investments, he claimed that Finance Minister Ishaq Dar will oversee the Kissan package and assure the distribution of loans to the farmers.
