Punjab unveils historic Rs15bn wheat package for farmers

Punjab Chief Minister Maryam Nawaz Sharif has announced a historic Rs15 billion wheat package for over 550,000 farmers under the Wheat Support Fund in a landmark move aimed at supporting wheat growers.

The announcement was made during a high-level meeting chaired by CM Maryam Nawaz, where several key decisions were finalized to support wheat farmers struggling with seasonal and market pressures.

“I will not let farmers suffer. They are our brothers; we are with them and will continue to support them,” said Maryam Nawaz while unveiling the package.

Key highlights of wheat package:

• Wheat farmers will receive direct cash assistance through the Kisan Card to help cover input costs.

• Farmers are being granted exemptions from fixed and excise taxes for the current wheat season.

• To protect harvested wheat from weather damage and market fluctuations, farmers will have access to four months of free storage.

• Electronic Warehouse Receipt System: Under the new system, farmers storing their wheat will receive an electronic receipt, which can be submitted to banks to secure loans of up to 70% of the grain's value within 24 hours.

• Subsidized Markup on Loans: The Punjab government will pay Rs5 billion in markup on loans taken for wheat storage. Additionally, Rs1 billion will be allocated for flour mills and green license holders to help finance wheat purchases.

• The provincial government has decided to seek federal approval for the export of wheat and wheat-based products, aiming to stabilize prices and reduce surplus.

• In a major policy shift, the government has lifted the ban on the movement of wheat and flour across provincial and district borders, allowing freer trade and access to markets.

• The Bank of Punjab will finance the renovation and construction of wheat warehouses by the private sector, with the provincial government covering the associated markup costs.

CM Maryam Nawaz emphasized that the new package aims not only to offer immediate relief but also to build long-term sustainability in the agricultural sector.