PM directs overhaul of farm lending, sets focus on easy loans for farmers

ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday instructed the relevant authorities to develop a comprehensive strategy for sustainable agricultural reforms, working in coordination with the provinces to significantly boost production and reduce input costs.

During a review meeting on agricultural development, the premier emphasized that the reform process would start with the provision of easy loans to farmers through a public-private partnership model. He also called for immediate reforms within the Zarai Taraqqiati Bank to ensure transparent and efficient loan distribution.

The prime minister highlighted that the upcoming Public Sector Development Programme (PSDP) would prioritize agricultural projects, focusing on mechanization, digitization, and providing easy access to credit for farmers while creating a more business-friendly environment.

He stressed that sustainable agricultural reforms would strengthen Pakistan’s economy, reiterating the government’s commitment to enhancing both crop production and the livestock sector. He emphasized the need for close coordination between federal and provincial governments to implement these reforms and called for proposals outlining both short-term and long-term strategies to improve storage capacity for agricultural commodities.

The prime minister also pointed out that agricultural development would primarily benefit farmers and rural communities. He urged expert collaboration to modernize the sector, including using agricultural zoning and value chain strategies to boost exports, introducing technology for small landholdings, and leveraging digital platforms to provide farmers with updated agricultural information.

During the meeting, proposals were discussed focusing on increasing agricultural production, improving infrastructure, and establishing simple, sustainable regulations to create a business-friendly environment. Plans to ensure easy access to loans for farmers were also reviewed.

The meeting revealed that the National Agriculture Innovation and Growth Action Plan would target raising farmers’ income, enhancing production, and implementing key reforms. The prime minister was informed that efforts were underway to establish secure storage facilities and launch a program for easy loans.

The use of artificial intelligence to improve per-acre yield and generate foreign exchange through agricultural exports was also discussed, with the goal of increasing value addition in the sector to benefit farmers’ income.

Later, the prime minister held separate meetings with political leaders and cabinet figures, focusing on constituency affairs, the political landscape, and the performance of the power sector.

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