Punjab announces Rs17bn farm loans, launches plan for Apna Kisan Bank

Punjab Chief Minister Maryam Nawaz Sharif has announced plans to establish the province’s first Apna Kisan Bank, alongside Rs17 billion in subsidized agricultural financing and an increase in Kisan Card limits to support farmers.

Announced at a meeting with farmers on Wednesday, the proposed financing scheme offers loans of up to Rs10 million at zero markup, up to Rs30 million at 2% interest and up to Rs50 million at 5% interest.

The chief minister also raised the Kisan Card limit for purchasing diammonium phosphate (DAP) fertilizer by Rs3,500 per acre, from Rs30,000 to Rs33,500. She said the government would coordinate with federal authorities to ensure a wheat support price of Rs4,500 per maund.

Maryam said the subsidized financing would benefit farmers cultivating around five million acres, while more than one million small farmers were already benefiting from the Kisan Card scheme.

She also announced plans for agro-parks in Sargodha, Bhakkar, Khanewal and Okara to improve crop processing, storage and export opportunities. The government has allocated Rs70 billion for high-tech agricultural mechanization and plans to expand the Green Tractor Scheme.

The chief minister also pledged measures to improve irrigation efficiency, promote olive cultivation and digitize wheat procurement.