The Prime Minister instructs the formulation of a strategy to facilitate accessible loans for farmers.
On Thursday, Prime Minister Muhammad Shehbaz Sharif instructed the pertinent authorities to formulate a policy framework for facilitating accessible loans to farmers engaged in medium and small-scale agricultural activities. The Prime Minister stated that priority must be accorded to supplying contemporary agricultural facilities to farmers possessing fewer than 12 acres of land during a review meeting on agricultural development and agri-financing planning. The prime minister instructed the preparation and presentation of a comprehensive plan by the end of this month to facilitate easy loans for farmers and to implement a system in the agri-financing sector that meets contemporary standards. He stated that Pakistan’s development is contingent upon the advancement of the agricultural sector and the enhancement of agricultural product value. He emphasized the necessity of establishing a framework to facilitate accessible loans for farmers to acquire modern agricultural equipment, artificial intelligence, and high-quality seeds. The prime minister emphasized the necessity of comprehensive planning for access to small-scale industrial machinery, intended for the processing of farmers’ produce into exportable goods. He indicated that the government was expediting the reform process to furnish farmers with modern agricultural equipment, high-quality seeds, artificial intelligence, improved water utilization, on-farm small industries, and additional resources. Measures are also being incorporated in the reforms to furnish farmers with essential facilities and training to enhance exports via the processing of agricultural products, he stated. A comprehensive briefing was provided regarding current agricultural reforms, the performance of the Agricultural Development Bank Limited, and the loans extended to farmers. Deputy Prime Minister and Foreign Minister Ishaq Dar, Federal Ministers Ahad Khan Cheema and Rana Tanveer Hussain, Prime Minister’s Advisor Muhammad Ali, Ministers of State Bilal Azhar Kiani and Abdul Rehman Kanju, Special Assistant Haroon Akhtar, Governor of the State Bank Jameel Ahmed, Chief Coordinator Musharraf Zaidi, and additional senior officials participated in the meeting.
