ISLAMABAD: Economic Coordination Committee takes important decisionsincluding multi billion rupees agriculture package.
Economic Coordination Committee has approved a multi-billion agriculturepackage to provide subsidy to farmers on fertilizers and pesticides,reduction in bank mark-up on agriculture loans, and sales tax subsidy onlocally manufactured tractors.
Meeting of ECC was held in Islamabad on Wednesday with Adviser to the PrimeMinister on Finance and Revenue Dr Abdul Hafeez Shaikh in the chair.
The agriculture package is part of the 100 billion rupees earmarked out ofthe 1,200-billion rupees coronavirus relief package, for the Small andMedium Enterprises and the agriculture sector.
Under the package, subsidy to the tune of approximately 37 billion rupeeswould be offered to farmers on the purchase of fertilizers.
The subsidy scheme will be implemented by provinces and the amount will bedisbursed through scratch card scheme already being implemented in Punjab.
Read Top Stories
Reduction in mark-up of agriculture loans to farmers at the total cost of8.8 billion rupees and subsidy on cotton seed at a cost of 2.3 billionrupees and White Fly pesticides at a cost of 6 billion rupees were alsoapproved.
The package would also include 2.5 billion rupees subsidy on sales tax onthe locally-manufactured tractors for a period of one year.
The ECC also approved a proposal by the Poverty Alleviation & Social SafetyDivision for disbursement of the Special Relief Package for the populationliving along the Line of Control.
