LAHORE (Kashmir English): The government of Punjab has approved to give farmers 70% of the loan straight away in return for wheat to build up 2.5 million metric tons of strategic wheat reserves in Punjab.
It has been decided to immediately activate the e-warehouse receipt system, and a summary has been presented to the chief minister for approval for the appointment of the Bank of Punjab as manager of, wheat loan program.
An amount of Rs 1.029 billion has been allocated for the repair of government warehouses, while the old warehouses will be upgraded through C&W or PASCO.
A digital dashboard on daily loans issued to farmers, including details of loans, reserves, and receipts, shall be prepared.
It is also being suggested to raise funds for the procurement of wheat from Rs 51 billion to Rs 64 billion. The unused warehouses will be allotted to the private sector, and in case of a market crash, the government will purchase wheat on its own.
The district strategic reserve committees will be established for the purpose of overseeing wheat procurement, storage, and monitoring.
Earlier, the federal government approved the Wheat Policy 2025-26 under which procurement will be made at the rate of 3,500 rupees per 40 kilograms.
In this respect, a high-level meeting was held in Islamabad yesterday with Prime Minister Shehbaz Sharif in the chair.
The new policy is aligned with international wheat import prices. Under this policy, farmers will be provided fair prices, and the government will procure strategic reserves to ensure stable stocks and protect farmers.
Under the new policy, there will be no restrictions on the inter-provincial movement of wheat, ensuring its availability nationwide.
It was further shared that the Federal Minister for National Food Security will chair a national committee responsible for overseeing wheat monitoring.
