CM Maryam launches hi-tech farm machinery financing program portal

Punjab Chief Minister Maryam Nawaz on Thursday launched hi-tech farm machinery financing program portal with digital touch, reported 24NewsHD TV Channel. 

Addressing the participants of the inauguration meeting, CM Maryam said Hi-tech Finance Program will prove to be the beginning of agricultural revolution in Punjab as government wanted to develop Punjab's agriculture on modern lines. 

Earlier, Secretary Agriculture gave a detailed briefing on the Hi-Tech Farm Mechanization Finance Program to CM Punjab. He told the CM that up to Rs 3 crore interest-free loans will be provided for purchase of 12 types of hi-tech agricultural machinery in Punjab. 

Secretary Agriculture said a grace period of six months has also been fixed for repayment of loans while loan installments will have to be paid on a quarterly basis over five years. Farmers, service providers and agri companies can apply for loans through the portal. 

Secretary Agriculture said 27 companies from China, 10 from Turkey, 5 from Italy, Japan, the US, Brazil, Spain and Belarus are involved in the manufacturing of high-tech agricultural machinery.

The Hi-Tech Farm Mechanization Financing Program includes wet combine harvester, multi-crop planter, rice planter, nursery machine and rice harvester. Wet straw baler, mezcob harvester, silage harvester, mezcob dryer, orchid pruner, orchid air blast sprayer are also included. High-tech agricultural machinery includes central pivot, irrigation system and high-power tractors.