CM Punjab Maryam unveils Rs 15 billion Wheat Support Fund for 550,000 farmers

LAHORE: Chief Minister of Punjab Maryam Nawaz Sharif has announced a wheat package for the farmers of the province.

The Punjab government has approved funds of Rs 15 billion under the Wheat Support Fund for 5.5 lakh wheat farmers. Direct financial assistance will be given to wheat farmers through Kisan Card.

Chief Minister Maryam Nawaz announced exemption from fixed taxes and subsidies for wheat farmers this year, in addition to which free storage facility will be provided for four months to protect wheat from weather effects and farmers from market pressure.

The government has decided to implement the EWR (Electronic Warehouse Receipt) system. Under the EWR system, farmers storing wheat will receive an electronic chit/receipt which will be given to the bank within 24 hours like a check and a loan of up to 70 percent of the total cost will be available.

The Punjab government has also announced that the ban on transportation of wheat and flour at provincial and district borders will be lifted.

Bank of Punjab will provide financial assistance to the private sector for renovation and construction of warehouses for storing wheat. The Punjab government will pay a markup of Rs5 billion to provide storage facilities to wheat farmers.

The Punjab government will pay a markup of up to Rs100 billion of loans from Bank of Punjab to flour mills and green license holders for the purchase of wheat.

Chief Minister Maryam decided to seek cabinet approval for immediate and compulsory purchase of wheat from flour mills and green license holders and to make it compulsory to store wheat up to 25 percent of the total storage capacity.

The Punjab government has also decided to approach the federal government for the export of wheat and by-products.

On this occasion, Chief Minister Maryam Nawaz said that the government will not let the farmer suffer, if the farmer cultivates wheat, the wheat farmer will get full benefit and compensation. Chief Minister Maryam claimed that farmers are assets and the government will continue to support them at all costs.