Over 1.2 million agriculture tub wells across Pakistan will be converted to solar energy, according to the minister for national food security and research, in an effort to enhance farm income, particularly for small-scale farmers and reduce input costs.
A task group was being established, Tariq Bashir added during a news conference, to finalize the specifics and coordinate commercial banks’ funding. The farmer can repay the loans in installments over a maximum of three years.
In addition, he noted that the prime minister, Shehbaz Sharif, had issued the directive to begin and prepare short- and long-term policies in order to guarantee the tangible results in a short period of time, with a focus on reviving the agricultural sector to maintain food safety and security as well as the profitability of farming communities.
Assuring farmers of the government’s commitment to guaranteeing a proper rate of return for their produce and enhancing the outcomes of all minor and major crops, he also said that the cotton intervention price was finalized and had been brought up for approval at the upcoming cabinet meeting.
The main objective, he continued, is to inspire farming communities to grow as much of this important crop as they can. The acreage was downsized by 37% from the previous session, and rice, maize, and sugarcane were planted in its place.
According to Cheema, the government is determined to declare the minimum support price for wheat before the planting season begins in order to encourage farmers to plant more of the crop, achieve self-sufficiency in the production of staple grains, and lower the percentage of imported wheat and edible oil that puts stress on urgently needed foreign exchange reserves.
He also emphasized the problems the typical person is facing and the intentions the government has to raise inflation. He claimed that steps are being taken to protect the average person from the effects of inflation.
He asserted that the government provided Utility Stores Corporation with further restricted prices on needs during the holy month of Ramazan. A farmer’s payment schedule can be created up to three years in advance.
In order to avoid any potential shortages of food grains brought on by the intensifying Russia-Ukraine conflict, the administration chose to import around 3 million tonnes of wheat to maintain a stable supply throughout the year. Additionally, the administration made the decision to raise the wheat output goals established by PASSCO and all provincial governments.
Additionally, it should be mentioned that the government exempted tractors from the sales tax while eliminating the duty on seed canola and cotton. To aid producers, no tax was added to fertilizer. The government is monitoring small-scale farmers because 92 percent of gambling towns have less than 12 acres of land.
In order to develop a credit facility with assurance and prevent middlemen from being taken advantage of, the government will set regulations in place. Tariq claimed that despite the difficult conditions brought on by the previous administration’s partnership with the IMF, the alliance partner had made difficult choices in an effort to win the public’s trust.