- Advertisement -
LAHORE, Apr 16 (APP):Punjab Chief Minister Maryam Nawaz Sharif has announced a landmark relief package worth Rs 15 billion for wheat farmers, an unprecedented initiative in the history of the province.
The historic package aims to directly benefit 550,000 wheat farmers across Punjab under the newly established Wheat Support Fund, with financial assistance being provided through the Kisan Card.
Chairing a meeting here on Wednesday, the CM, in a move aimed at easing the burden on the agricultural community, announced a complete exemption from irrigation and fixed taxes for wheat farmers during the current year.
To protect wheat stocks from climate-related risks and market volatility, the package includes free storage facilities under the Electronic Warehouse Receipt (EWR) system for up to four months. Under this system, farmers storing wheat will receive electronic receipts that can be presented to banks within 24 hours to secure loans of up to 70 percent of the total value of their stored produce.
As part of the package, the Punjab government has also committed to paying the markup on loans up to Rs 100 billion secured by flour mills and green license holders for wheat procurement from the Bank of Punjab. The provincial cabinet will be approached for immediate approval to make wheat procurement mandatory for these stakeholders. Furthermore, wheat storage of at least 25 percent of total capacity has been made compulsory for license holders.
The chief minister also directed that the ban on wheat and flour transportation across provincial and district borders be lifted immediately, facilitating smoother market access and supply chain efficiency. To strengthen long-term storage infrastructure, the Bank of Punjab will offer financing to the private sector for the construction and renovation of warehouses, with the Punjab government covering markup costs up to Rs 5 billion.
Moreover, the provincial government will formally approach the federal government to allow the export of wheat and wheat-based products, providing further avenues for market expansion.
The CM said, “Our farmers are our strength. We will not allow them to suffer losses. Any farmer who has cultivated wheat will be fully compensated. We stand by our farmers, and will always stand by them.”