Punjab CM allocates Rs15bn for 550,000 wheat farmers

LAHORE: Punjab Chief Minister Maryam Nawaz Wednesday approved Rs15 billion funds for 550,000 wheat farmers, which they will directly get through Kisan Card under the wheat support fund.

She also announced exemption from paying irrigation/fixed tax for the wheat farmers during the current year. Under the CM package, free storage Electronic Warehouse Receipt (EWR) facility would be provided for four months to protect wheat from climate change effects and farmers from market pressure. Farmers storing wheat under the EWR system would get an electronic receipt. Within 24 hours, the receipt can be given to the bank to obtain a loan up to 70 per cent of the total value.

It has been decided to pay a markup of loans obtained from the Bank of Punjab up to Rs100 billion to flour mills and green licence holders for wheat purchase. It has also been decided to immediately seek approval from the cabinet for immediate and mandatory purchase of wheat by flour mills and green licence holders. Wheat storage up to 25 per cent of the total storage capacity has been made mandatory.

It was decided to contact the federal government for export of wheat and wheat products. The Bank of Punjab will provide financing to the private sector for renovation and construction of warehouses for wheat storage. The Punjab government will pay a markup of Rs5 billion to provide storage facilities to the wheat farmers. The ban on transportation of wheat and flour at provincial and district borders had been lifted.

Meanwhile, CM Maryam Nawaz launched country’s first-ever Environment Protection Squad. She launched the Environmental Approval Management System (EAMS) and Emission Testing System (ETS) for vehicles.