Punjab govt offers Rs16bn interest-free loans to livestock farmers

According to Mettis Global, the Punjab government plans to provide Rs16.2bn in interest-free credit to livestock keepers in the second phase of the Livestock Card Scheme. The aim is better feed for 600,000 animals across two years, with the wider goal of boosting meat output. Borrowers repay only the principal while the province absorbs the interest cost.

Eligible farmers can obtain Rs27,000 for each animal to buy feed such as wanda, silage and mineral mixtures, and 25% of the loan can be withdrawn in cash through ATMs. Chief Minister Maryam Nawaz Sharif launched the phase digitally on Wednesday, and free animal tagging and foot-and-mouth disease vaccination will also be provided. The report also notes that the first phase recorded a 96% recovery rate.

The Livestock Connect portal has linked 23,000 farmers directly with meat exporters, and the province has signed memorandums of understanding with eight large exporters. The Punjab Animal and Meat Company (PAMCO) has also signed agreements to facilitate market access in China, Saudi Arabia, the wider Gulf, Azerbaijan, Uzbekistan and Europe. Animal exports from Punjab grew 43%, while meat exports increased by $96 million over one year, according to the report.