LAHORE: A programme worth Rs10 billion is being considered to be launched by the Punjab Government for extending small loans to livestock farmers on easy terms with a view to develop the livestock farming sector.

A meeting chaired by caretaker provincial minister for livestock and dairy development Ibrahim Hasan Murad reviewed small loan programme here on Wednesday at a meeting which was also attended by the Secretary Livestock Masoud Anwar and officials of the Bank of Punjab.

Consideration was given to increase the share of livestock sector in the Punjab Government’s easy loan programme.

Addressing the meeting, caretaker minister stated that the loans of up to one million rupees at low markup will encourage livestock farming in rural areas. He directed the Bank of Punjab officials to conduct a mass level and effective awareness campaign about the loan scheme.

He expressed his satisfaction over the facility of dedicated online portal for online applications. Ibrahim Hasan Murad urged that it should be ensured that the loan is used for the specified purpose only. “Farming loans should be targeted only at the poor rural population. Use for any other purpose will strongly be discouraged,” he vowed.

Speaking on the occasion, Secretary Livestock Masoud Anwar said that a district-level scrutiny committee will be established for proper distribution of loans for farming. “Proposed scrutiny committee will take steps to ensure proper utilisation of the funds,” he said. He added that livestock department will also conduct an awareness campaign of the loan scheme through its network.

Copyright Business Recorder, 2023