ECC approves multi-billion agriculture package to facilitate farmers

• The scheme is part of the Rs100 billion earmarked out of the Rs1,200-billion coronavirus relief package.
• As part of the package, subsidy of Rs37 billion will be provided to farmers on fertilizers and pesticides while bank mark-up on agriculture loans will be reduced.
• The scheme will be implemented by all the provinces and the amount will be disbursed through scratch card scheme.

(Karachi) The Economic Coordination Committee (ECC) has approved a multi-billion agriculture package to facilitate the farming community.

The decision was taken in ECC meeting which was held in Islamabad on Wednesday. Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh chaired the meeting.

The agriculture package is part of the Rs100 billion earmarked out of the Rs1,200-billion coronavirus relief package, for the Small and Medium Enterprises and the agriculture sector.

As part of the package, subsidy of Rs37 billion will be provided to farmers on fertilizers and pesticides while bank mark-up on agriculture loans will be reduced. In addition, sales tax subsidy worth Rs2.5 billion will be given on locally manufactured tractors.

The scheme will be implemented by all the provinces and the amount will be disbursed through scratch card scheme already being implemented in Punjab.

The ECC also approved a proposal by the Poverty Alleviation and Social Safety Division for disbursement of the special relief package for the population living along the Line of Control.