The agri loan shall be provided to farmers at the earliest. This was said by Secretary National Food Security and Research, Omar Hamid Khan while having a meeting with President Zarai Taraqiati Bank Ltd (ZTBL), Muhammad Shahbaz Jameel on Thursday. Omar Hamid Khan added that tge dispersement mechanism of agri loan shall be transparent. He was of the view that there must be effective transfer of subsidy. He added that the agri loan will be provided on sustainable land holding. During meeting modalities of disbursement of loan was widely discussed.
Honorable Prime Minister of Pakistan, announced a Fiscal Package of over Rs.1200 billion in the wake of Covid-19 Pandemic. ECC of Cabinet Division has approved the proposals on 13th May 2020. Out of this Package, an amount of Rs. 6.861 billion has been approved for provision of financial relief in terms of markup subsidy on Bank’s loans to the most deserving sub segment of farming community, i.e. farmers with land holding up to 12.5 acres, throughout the country. Over 70 % of the growers in Pakistan, own land up to 12.5 acres. A Mark-up subsidy @ 10 % on the loans extended or to be extended during the fiscal year 2020-21 to the farmers of 12.5 acres of land has been approved by the Government of Pakistan. Total amount of subsidy is Rs.6.86 billion. All the loans with passbook as collateral are eligible to avail the subsidy.
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