Area
Pakistan
Commodity Group
Rice
Commodity
All
Date
15/09/2015
Policy Category
Production
Policy Instrument
Production support
Description
Announced that it would extend a PKR 341 billion (USD 3.2 billion) support package to the agricultural sector. The initiative will include PKR 194 billion (USD 1.8 billion) to enhance agricultural credit, with the remainder of the funds going towards direct payments to producers and measures to lower production costs. The latter would include PKR 40 billion (USD 381 million) to issue a PKR 5 000 per acre direct payment to rice and cotton farmers for up to 12.5 acres (USD 118 per hectare) and be further to steps taken to lower the costs of importing agricultural machinery as well as approved tax exemptions. Additional funds will go to cut the costs of phosphate and potassium fertilizers, extend crop insurance to farmers, subsidize the cost of electricity associated with running tubewells and promote the use of solar tubewells.
Notes
Exchange rate as of 15 September 2015.
