Punjab govt announces first Kisan Bank, Rs17 billion in agricultural loans

Punjab plans to launch Apna Kisan Bank and provide Rs17 billion in subsidised farm credit, Chief Minister Maryam Nawaz announced on Wednesday. The proposed lending terms include interest-free financing up to Rs10 million, loans up to Rs30 million at two per cent, and funding up to Rs50 million at five per cent through the Punjab Urban Unit. The programme is intended to cover farmers working around five million acres.

The provincial government will also raise Kisan Card financing for DAP purchases by Rs3,500 per acre, taking the ceiling to Rs33,500. Nawaz outlined agro-park projects in Sargodha, Bhakkar, Khanewal and Okara for handling and processing crops, and said Punjab would pursue exports of processed goods such as pasta. She also cited a proposed wheat support price of Rs4,500 per maund and the Potohar Transformation Package, which promotes olive growing through subsidies.