ISLAMABAD: Finance Minister Ishaq Dar unveiled the federal budget 2023-24 in the National Assembly on Friday, announcing the decision to increase the limit of agriculture loans from Rs.1800 billion to Rs.2250 billion.
The government earmarked Rs30 billion to convert 50,000 tube wells on solar energy. It abolished the import tax and duties on seeds, and seeders, rice planters, and dryers to increase the rice production.
The angro industry would be provided with Rs5 billion concessional loans.
The small and mid-level loans program under the PM’s Youth, Business, and Agriculture Loan Scheme would be extended to the next fiscal year. Rs10 billion have been reserved in this regard.
It is decided to allocate Rs6 billion for the subsidy on imported urea fertilizer.
The small farmers would be provided with low mark-up loans with the collaboration of the provinces and Rs.10 billion have been allocated for the purpose.
