The Punjab government has announced a major investment of Rs35 billion over the next two years to boost agricultural mechanization. This ambitious initiative aims to modernize the farming sector, making advanced technology more accessible to farmers and service providers across the province.
Punjab is set to transform its agricultural sector by introducing modern mechanization techniques. The government’s plan includes offering interest-free loans to help farmers and service providers upgrade their equipment, ultimately increasing efficiency and productivity in the field.
Interest-Free Agricultural Loans
Financial Support for Modernization
- Loan Benefits: Farmers and service providers can avail interest-free loans of up to Rs50 million through partnering banks.
- Target Audience: The program specifically targets small service providers who own two or three outdated agricultural machines. The goal is to help them purchase new, efficient equipment.
Government Announcement
The plan was disclosed by Syed Ashiq Hussain Kirmani, Punjab’s Minister for Agriculture & Livestock, during a key meeting at the Agriculture House. This meeting, held in preparation for the Budget 2025-26, discussed various proposals under the “Transforming Agriculture Punjab” initiatives, including the CM Punjab High-Tech Mechanization Bank Financing Program. Iftikhar Ali Sahoo, Secretary Agriculture of Punjab, was also present.
Additional Agricultural Initiatives
Enhancements to the Kissan Card Programme
- Wider Coverage: The second phase of the Kissan Card programme will now include small and medium-scale farmers with up to 25 acres of land.
- Improved Terms: The per-acre loan limit is increased to Rs40,000, and the processing fee per acre has been reduced. A total of Rs75 billion has been allocated to cover vital agricultural inputs such as fertilizers, seeds, pesticides, and diesel.
Updates on the CM Punjab Green Tractor Programme
- Phase-1 Success: Out of 9,500 farmers selected by balloting, 8,300 have already received tractors. The remaining tractors are scheduled to be distributed by March 31.
- Future Plans: For Phase-2, an additional 9,500 tractors with 60-85 horsepower will be provided in the next fiscal year.
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Infrastructure and Future Projects
Development of Model Agricultural Malls
- New Facilities: The construction of four model agricultural malls is nearly complete. The Sahiwal Mall is expected to be finished by April 15.
- Expansion Plans: The government has planned to build 10 more agricultural malls in the next fiscal year, providing better support and services to the farming community.
Solarisation of Agricultural Tube-Wells
The meeting also reviewed proposals for Phase-II of the solarisation of agricultural tube-wells, aiming to enhance energy efficiency and reduce operational costs for farmers.
Conclusion
Punjab’s Rs35 billion investment in agricultural mechanization is set to revolutionize the province’s farming sector. By offering interest-free loans and implementing supportive initiatives like the Kissan Card enhancements and Green Tractor Programme, the government is ensuring that farmers have access to the latest technology and improved financial terms. These measures will not only boost agricultural productivity but also contribute to the overall economic growth of the region.
