ISLAMABAD, Jun 13 (APP): Minister for Finance and Revenue Senator Muhammad Aurangzeb on Saturday said that the development of the agriculture sector remained a top priority of the government, which had introduced a range of incentives to modernize and promote agricultural growth across the country.
Addressing a post-budget press conference, the minister said the government had proposed exemptions from customs duty, additional customs duty, and regulatory duty on the import of agricultural machinery to accelerate farm mechanization and enhance per-acre crop productivity.
He said agricultural credit and financing had recorded around 15 percent year-on-year growth and were expected to surpass the Rs2 trillion mark during the current fiscal year. To further strengthen financial inclusion in the sector, the government launched Zarkheze, a digital platform offering collateral-free financing at a zero percent markup, aimed at expanding access to formal credit for small farmers.
The minister said the initiative was designed not only to provide financing but also to improve agricultural productivity by ensuring access to quality inputs and advisory services for small-scale growers.
He further informed that the government had earmarked Rs 226 billion under the Prime Minister’s Agriculture Loan Scheme. Of this amount, Rs125 billion has been allocated specifically for agricultural financing and support initiatives aimed at boosting farm output and strengthening the rural economy.
Leave a comment