Daily Times

The government has provided Rs 2,953 million for the modernization of agro-based Small and Medium Enterprises (SMEs) in order to enhance farm output and encourage agricultural sector value addition for enhancing farm income as well as profit maximization.

The amount was disbursed among 177 borrowers under Prime Minister Kissan Package for dairy, livestock food processing, fruit, and vegetable packaging across the country, said an official in the Ministry of National Food Security and Research. Talking to APP here on Friday he said that the government has also provided Rs1,057 million for mark-up subsidy and a risk-sharing scheme for farm mechanization to enhance per-acre farm income in the country. The amount was disbursed among 507 borrowers by the end of the last fiscal year.

“Meanwhile, the government has disbursed Rs12,817 million under Prime Minister Youth Agriculture Loan Scheme in order to encourage youth towards agriculture entrepreneurship as well as promote the agriculture and livestock sector in the country, he added.” The official said that over 24,776 applications were approved and out of that 23,857 applications were disbursed, adding that an amount of Rs14,917 million was approved and Rs12,817 million disbursed among the applicants.

The government, he said under the Kissan Package had provided Rs3,830.9 million in interest-free loans by June to landless farmers, which were badly affected due to torrential rains and flash floods last year. He said adding that by the month of June 2023, interest-free loans were provided to about 35,405 landless farmers in order to revive the agriculture sector in flood-hit areas across the country, the official added. “The government has introduced a multi-billion rupee Kissan Package to revive the agriculture sector and enhance the per-acre output of major and minor crops, aiming to achieve sustainable agricultural growth and economic development,” he added. “Moreover, the government disbursed Rs12,817 million under Prime Minister Youth Business and Agriculture Scheme to 23,857 farmers, which provides financial assistance and support to young farmers in agriculture entrepreneurship,” he added.