AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad, September 27, 2020 (PPI-OT): Ministry of National Food Security and Research has launched mark-up subsidy scheme under the Fiscal Package announced by the Prime Minister for the agriculture sector to mitigate the impact of Covid-19 pandemic. An amount of Rs. 6.861 billion would be spent for 10% mark-up subsidy on agriculture loans disbursed by Zarai Taraqqiati Bank Limited (ZTBL). The scheme is valid all over the Country including AJ and K and Gilgit-Baltistan. Government of Pakistan would bear mark-up @10% on agricultural loan for Fiscal Year 2020-21 i.e. July 1, 2020 to June 30, 2021 and individual farmer shall bear balance mark up as per agreed terms.
Farmers up to 12.5 acres of land holding with Pass Book as collateral are eligible. The subsidy shall also be available on the date of full payment of loan or the due date, or up to June 30, 2021, whichever is earlier. In case of default, the borrower shall be liable to pay applicable mark up for the defaulted period. All Agri-loans (Production and Development) fall under as per above criteria, are eligible. Farmers are advised to contact nearest ZTBL branch for the adjustment of the subsidy against their loans.
Ministry of National Food Security and Research has launched cotton whitefly subsidy scheme under the Fiscal Package announced by the Prime Minister for the agriculture sector to mitigate the impact of Covid-19 pandemic. An amount of Rs. 6.00 billion would be spent as subsidy on purchase of whitefly related pesticides. A subsidy @ Rs. 300/pack of pesticide meant for white fly is being offered.
The subsidy would be Rs.300 per application at an average of 4 applications per acre and will cover 5 million acres in Punjab and Sindh Province, which is around 80% of the cotton area. The scheme is operational and cotton growers are advised to purchase subsidized pesticides which are available in the market.
For more information, contact:
Principal Information Officer,
Press Information Department (PID)
Tel: +92-51-9252323, +92-51-9252324
Fax: +92-51-9252325, +92-51-9252326
Email: piopid@gmail.com
Website: www.pid.gov.pk