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Punjab Budget 2024: Interest-free Loans to Farmers announced under ‘Green Tractor scheme’

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LAHORE – Punjab government has announced launching “Green Tractor Scheme” to offer small, medium, and large tractors to farmers at subsidized rates in Budget 2024-25.

The new initiative aimed at boosting mechanisation in agriculture in Punjab. This initiative, launched under Chief Minister Punjab will continue for a year and ensure that all tractors provided meet high-quality standards.

Interest-free Loans to Farmers 2024

In the Budget speech, the government announced unveiling Pakistan’s biggest Kissan Friendly Package. The government earmarked over 75 billion for the Freen Tractor Scheme to empower half million farmers in the region.

Chief Minister Solarization of Agriculture

Punjab Chief Minister also announced several players including Solarization of Agriculture under historic package for farmers, including establishment of the Punjab Kisan Bank, Green Tractor Scheme.

The government decided to establish Punjab Kisan Bank to provide farmers with loans on favorable terms. The scheme aims to benefit landowners with 6 to 50 acres.

The government also rolled out Oil Seed Promotion Program to encourage farmers to grow oily edibles.

Key Takeaways from Pakistan’s Federal Budget 2024-25

 

Web Desk (Lahore)

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