RAWLPINDI: Punjab Chief Minister Maryam Nawaz has announced a support package for wheat farmers.
A Punjab government spokesperson said the Chief Minister approved 15 billion rupees for the Wheat Support Fund. The package will directly benefit 550,000 farmers, who will receive financial support through the Kisan Card.
The spokesperson added that this year, farmers will be exempt from irrigation fees and fixed taxes. To protect farmers from market pressures and weather issues, four months of free storage will be provided.
The government has also decided to implement the Electronic Warehousing Receipt (EWR) system. Farmers storing wheat will receive an electronic receipt, which can be used to obtain a loan of up to 70% of the total cost from a bank within 24 hours.
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Flour mills and green license holders will have the markup on loans up to 100 billion rupees from the Bank of Punjab covered.
The spokesperson said the government plans to coordinate with the federal government to export wheat and wheat-based products. Restrictions on the movement of wheat and flour across provincial and district borders have been lifted.
The Bank of Punjab will finance the private sector for the restoration and construction of wheat storage warehouses. The Punjab government will cover the markup on 5 billion rupees to provide storage facilities for wheat farmers.
