Punjab launches country’s largest tractor scheme
Under the vision of Pakistan Muslim League-Nawaz (PML-N) leader Muhammad Nawaz Sharif and the initiatives of Chief Minister Maryam Nawaz Sharif, the Punjab government has launched Pakistan's largest tractor scheme, setting a new national record with the distribution of 30,000 tractors to farmers.
The Chief Minister said that the historic scheme aims to strengthen farmers economically and enhance agricultural productivity across the province. Under the first phase of the Chief Minister Tractor Programme, 10,000 tractors with 50 to 75 horsepower have already been provided to farmers.
The CM said that the second phase, which includes 10,000 tractors with 75 to 85 horsepower, has been completed through a transparent balloting process, while the distribution of tractors is currently under way. The Punjab government is providing a subsidy of up to Rs one million per high-horsepower tractor. A total subsidy of Rs 10 billion has been allocated for the high-power tractor scheme.
Maryam Nawaz Sharif announced that the third phase of the tractor scheme will be launched in January, under which applications will soon be invited for the provision of 50 to 55 horsepower tractors to farmers. In addition, large tractors ranging from 100 to 120 horsepower will be provided on interest-free loans under the High-Tech Farm Mechanisation Financing Programme, she added.
Source: Business recorder
