Rs 341bn package for farmers to boost agri sector

LAHORE – President Federation of Pakistan Chamber of Commerce and Industry, Muhammad Adrees on Tuesday said that an excellent package of incentives offered to small farmers would boost agriculture sector besides improving socio economic condition of growers in Pakistan.

Hailing the Rs 341 billion package announced by the prime minister on Tuesday, he said that it would definitely enhance production of all crops across the country. He said that direct cash support for farmers cultivating rice and cotton and provision of soft agriculture loans would also help farmers to buy seeds, fertilizer, pesticides and modern agriculture implements to increase yield per acre.

SAARC Chamber Vice President and United Business Group Chairman Iftikhar Ali Malik said that it was for the first time that an elected prime minister had offered such an historic package for small farmers which would make the country self sufficient in food grains. He said that provision of interest free loan for solar tube wells was another landmark achievement of the government of the Pakistan Muslim League-N led by Prime Minister Nawaz Sharif.

He said that the decision to pay rupees seven billion sales tax on tube wells running on electricity by the federal government was another important step for the betterment of farmers. He said that fisheries sector, fruit and vegetable sub-sectors had also been exempted from income tax for a period of three year.

Lahore Chamber election candidate Mian Zahid Jawaid said that the prime minister under this package had totally streamlined the cumbersome procedure of agriculture production loans which was a long standing demand of farmers. He said that the prime minister had won the hearts of entire farmers community in Pakistan by offering unprecedented package.

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