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LAHORE – Punjab Chief Minister Maryam Nawaz unveiled the launch of the province's inaugural 'Apna Kisan Bank' on Wednesday, alongside news of agricultural loans totaling Rs17 billion and an expansion of financing under the Kisan Card scheme. This announcement was made during a meeting with farm representatives in Lahore.

The proposed financing framework grants farmers access to loans of up to Rs10 million without interest, up to Rs30 million at a 2% interest rate, and up to Rs50 million at a 5% rate through the Punjab Urban Unit. Additionally, the Kisan Card loan limit for purchasing diammonium phosphate (DAP) fertilizer has been raised by Rs3,500 per acre, increasing it from Rs30,000 to Rs33,500 per acre.

Nawaz assured the government's commitment to maintaining the wheat support price of Rs4,500 per maund in collaboration with the federal government. The Rs17 billion in subsidized loans will aid farmers tilling around five million acres. The chief minister affirmed the government's stance against imposing agricultural income tax on farmers and their dedication to safeguarding their interests.

She highlighted the Kisan Card's role in enabling farmers to procure fertilizers, seeds, and pesticides without relying on middlemen. Over a million small farmers are currently benefiting from the scheme.

Regarding mechanization, Nawaz revealed that 25,000 tractors had already been provided on subsidy, and the Green Tractor Scheme would be expanded. She announced an allocation of Rs70 billion for high-tech agricultural mechanization, aiming to stimulate the establishment of agricultural machinery factories and local production of tractors with 85 to 100 horsepower.

Plans to establish agro-parks in Sargodha, Bhakkar, Khanewal, and Okara were also unveiled to enhance farmers' yields. An online portal for digitizing wheat procurement will be introduced, and the government aims to officially launch its wheat procurement plan soon.

In terms of water management, Nawaz stated that the government was implementing stringent measures against water theft to ensure supplies reach the farthest reaches of irrigation channels, regardless of a farmer's financial or social background. Around 400 mini-dams have been completed in the Potohar region, with the objective of increasing this number to 1,000.