Connect with us

Pakistan

PM Shehbaz Sharif announces relief package for farmers

Published

on

ISLAMABAD: Prime Minister Shehbaz Sharif Monday announced a relief package worth billions of rupees for farmers after cataclysmic floods badly hit the agricultural sector.

“I have come to terms with the fact that the country’s progress is directly proportional to the development of Pakistan’s agricultural sector,” the prime minister said while addressing a press conference alongside federal ministers and members of the government’s economic team.

Unprecedented flash floods caused by historic monsoon rains have washed away roads, crops, infrastructure and bridges, killing over 1,700 people and affecting more than 33 million, over 15% of the country’s 220 million population.

Final estimates put the damage from Pakistan’s recent deadly floods at more than $30 billion, the planning ministry’s Post-Disaster Needs Assessment (PDNA) report stated, adding that the reconstruction needs are over $16 billion.

According to the report, agriculture, food, and livestock suffered losses worth $3.7 billion (Rs800 billion).

Climate-induced flooding across Pakistan has destroyed agriculture resulting in a decrease in the production of major crops. Sugarcane production has been reduced by 8%, rice by 40.6%, and cotton by 24.6%.

The premier said for the ongoing fiscal year, the government will provide loans worth Rs1,800 billion to the farmers — four times more than the preceding year.

“As you all know, the incumbent finance minister [Ishaq Dar] is quite strict […] and he will ensure that all the amount is provided to the farmers,” PM Shehbaz said, highlighting that the commercial banks avoid giving loans to small farmers and entrepreneurs and look for secure investments.

The PM said the markup on the loans taken by farmers belonging to flood-affected areas has been waived off and for this, the government has allocated nearly Rs11 billion.

The Centre and smaller provinces will also provide more than Rs8 billion to small farmers in flood-affected areas, he said, adding that the government would also provide loans worth Rs50 billion to youngsters living in rural areas and are willing to become professional farmers.

Loans for tenant farmers

He said that the loans to youngsters would be provided on a markup less than the market rate and the government will set aside nearly Rs6.5 billion for this venture.

The prime minister announced interest-free loans for tenant farmers in flood-hit areas. “Subsidy worth Rs5 billion have been allocated for these loans,” PM Shehbaz maintained.

In addition to this, the government increased the value of Produce Index Unit (PIU) from Rs4,000 to Rs10,000 for obtaining loans for agriculture purposes.

He maintained that they would promote small and medium enterprises (SMEs) in the agriculture field as Rs10 billion have been allocated for the SMEs’ modernisation scheme in the agriculture sector.

Subsidy on urea, DAP

Sharing further details, the premier announced that following a tough negotiation with the government, the fertiliser plants have agreed to slash Rs2,500 per bag on Di-ammonium phosphate (DAP) — the DAP bag will now be available at Rs11,250 in the market.

Earlier the DAP bag was being sold at around Rs14,000.

In collaboration with the provinces, 1.2 million bags of certified wheat seeds would be provided to farmers in flood-ravaged areas free of cost, the prime minister said, adding that Rs13.20 billion were allocated for the programme. Of the Rs13.20 billion, 50% would be provided by the Centre, he added.

He further revealed that the government has planned to import 500,000 tons of urea out of which 200,000 tons have already arrived in Pakistan.

The PM praised the industries minister and his team for negotiating the deal in a manner that helped the government save $100 per ton — as under the government-to-government deal urea was available at $600 per ton initially but because of the constant efforts of the authorities concerned price was brought down to $500 per ton.

“In order to strengthen the agriculture sector of Pakistan, the government has also decided to allocate Rs30 billion as subsidy on urea so that the small farmers can get the fertiliser at cheaper rates.

Govt decides to import second-hand tractors

The premier lamented the tractors locally manufactured in Pakistan cannot be exported because of the ban imposed; which has also increased the cost of tractors for the common farmers.

“I along with Dar and other authorities concerned tried to end the monopoly of the tractor industry; however, the stakeholders straight away refused to cooperate with the government,” PM Shehbaz said, adding that keeping this situation in mind the government has decided to import second-hand tractors.

The prime minister said that the government, out of obligation, has decided to import up to five years old second-hand tractors (with proper certification) in order to help farmers who cannot afford the locally-manufactured tractors.

He clarified that had the tractor industry cooperated with the government they wouldn’t have taken this decision, which is expected to dent the local industry. The premier also announced that a 50% rebate on duty will also be given to those importing these five-year-old second-hand tractors, 36% rebate on three-year-old tractors, and the concession rates will be calculated accordingly.

In a tweet earlier, the prime minister said: “Today I am going to announce a huge package for the revival of agriculture in the country. I believe that only through the development of agriculture can the country face the challenges of food security.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Speech Made by Pakistan’s Prime Minister on the International Day Against Poverty

Published

on

By

In renewing our commitment to a world where no one is left behind and where possibilities for success are unrestricted by one’s origin or circumstances, Pakistan stands together with the global community on this International Day for the Eradication of Poverty. In addition to being morally right, ending poverty is essential to attaining sustainable development and guaranteeing everyone’s peace and prosperity.

The people have always been the center of every policy made by our government. We have significantly reduced poverty and made sure that our most vulnerable residents are taken care of thanks to our social safety net programs. We think that providing long-term routes to economic empowerment is equally as important as providing instant relief when it comes to assisting people in escaping poverty. Our focused initiatives seek to equip communities—women and children in particular—with the means to create better futures for themselves.

The Pakistani government is steadfast in its commitment to improving the affordability of living for its citizens despite the obstacles we face on a global scale, such as inflation and economic instability. Our policies are designed to build long-term economic resilience, from meeting housing needs to guaranteeing food security. With the help of programs like the PM Youth Business, Agriculture Loans, Digi-Skills, which offers free IT training, and the Pakistan Education Endowment Fund, millions of families are receiving financial support and technological help that is changing their lives.

Eradicating poverty is also a top priority for Pakistan, which is still fully committed to reaching the 17 Sustainable Development Goals (SDGs). With a focus on inclusive growth, education, healthcare, and environmental sustainability, we will keep working together with our international partners to achieve these goals. The advancements made in empowering women and guaranteeing that their contributions are essential to the country’s social and economic fabric are another reason for pride.

On this day, I would want to express my sincere gratitude to everyone who is devotedly striving to end poverty, both in Pakistan and globally. We can create a future where everyone, regardless of circumstances, has the chance to flourish and succeed by uniting with a shared purpose and unwavering determination.

I speak on behalf of the Government of Pakistan to reiterate our steadfast commitment to this cause and to extend an invitation to all facets of society to work with us to create a world that is more wealthy, just, and inclusive.

Continue Reading

Entertainment

Karan Johar compliments Chahat Fateh Ali Khan’s ‘Tauba Tauba.’

Published

on

By

Chahat Fateh Ali Khan, a social media sensation known for his song ‘Bado Badi’, has garnered attention once more after posting his rendition of the classic track ‘Tauba Tauba’ on Instagram.

The song, initially included in the Vicky Kaushal film ‘Bad Newz’, achieved significant popularity due to its infectious rhythms and distinctive choreography.

Chahat’s rendition garnered heightened attention after Bollywood director Karan Johar reposted it on his Instagram, urging fans to ‘must see’ the song.

Karan Johar Chahat Fateh

Chahat’s performance garnered mixed to unfavorable responses from the audience. As the infectious melody rapidly gained popularity, the original artist, Karan Aujla, could not refrain from contributing a funny remark regarding the new rendition.

He humorously commented under Chahat’s post, “Please do not act like an uncle.” The reply provoked a barrage of caustic remarks from internet users, with one individual jesting, “Karan Aujla weeping in the corner.”

Others contributed their own comical interpretations, with comments such as “Karan himself advised uncle to cease” and “your song – toba toba,” thereby accentuating the playful repartee.

Karan Aujla’s original ‘Tauba Tauba’ achieved immediate success, showcasing Vicky Kaushal’s energetic dance performance in ‘Bad Newz,’ which also included Ammy Virk and Triptii Dimri.

The ongoing lighthearted rivalry is delighting fans who appreciate the fun interactions between these two skilled artists.

Continue Reading

Latest News

It is essential to combat terrorism, separatism, and extremism for regional peace. Jaishankar

Published

on

By

Indian External Affairs Minister S. Jaishankar, during his remarks at the 23rd Shanghai Cooperation Organization (SCO) summit, underscored the necessity of peace, stability, and regional collaboration to foster economic development and prosperity.

He emphasized that cross-border infiltration undermines trade and hinders diplomatic relations between nations, underscoring the necessity of mutual respect and sovereign equality among SCO members.

Jaishankar emphasized the capacity of industrial collaboration, especially among small and medium companies (SMEs), to enhance employment, competition, and market expansion. The Indian foreign minister noted, “Collective initiatives can enhance resources and stimulate investment flows, benefiting business communities through expanded networks.”

Emphasizing environmental sustainability, Jaishankar endorsed collaborative efforts in environmental protection, highlighting that the International Solar Alliance can advance renewable energy, while the Alliance for Disaster Resilient Infrastructure equips member nations to confront climate-related challenges.

He also discussed global health concerns, claiming that affordable and accessible medications will facilitate the treatment of both communicable and non-communicable diseases.

Jaishankar advocated for extensive reforms in international organizations, highlighting the necessity to modernize entities such as the United Nations Security Council. He stated, “Global trade and rebalancing are undeniable realities,” encouraging SCO states to capitalize on rising opportunities in trade, investment, and energy collaboration.

Jaishankar emphasized that the area can only derive advantages from these potential if collaboration is founded on authentic partnerships rather than unilateral objectives. He advocated for a candid dialogue among SCO members to tackle trust problems and foster regional development. He stated that mutual trust and cooperation are essential for attaining regional progress.

Furthermore, Jaishankar emphasized the catastrophic effects of the COVID-19 epidemic on developing countries and expressed apprehensions regarding escalating debt and the worldwide delay in attaining Sustainable Development Goals (SDGs). He recognized the potential afforded by technology, yet emphasized that it also presents new issues requiring community resolution.

Jaishankar reiterated India’s endorsement of Pakistan’s effective leadership of the SCO this year and commended the host nation for leading the summit. He finished by urging SCO member nations to adhere to the organization’s aims, especially the enhancement of mutual trust, camaraderie, and amicable relations.

Jaishankar emphasized the necessity for the SCO to assume a pivotal role in tackling regional and global challenges, especially in combating terrorism, separatism, and extremism, which he deemed essential for maintaining peace and stability.

Continue Reading

Trending