Good news! Pakistan government introduces interest free loans for farmers in 2024

The Chief Minister of Punjab has opened the Kisan Loan Scheme registration process for farmers to support agricultural development across the state. Eligible applicants can get up to Rs. 50 lakh in agricultural loans under this scheme. Through this initiative, the Punjab government has set aside funds to help up to 50,000 farmers in the province. The Punjab Chief Minister's directives state that the process of registration of farmers participating in the Kisan scheme has started across the country. Applicants must register with the Agricultural Loan Program as soon as possible to receive agricultural loans under the Agricultural Loan Program.

Registration process

• Farmers who wish to register for the Farmer Loan Program should visit the nearest regional administrative office as soon as possible. You will register through PITB Kisan online portal using the representative present there. A copy of the land documents and your national identity document is required for registration. A local PITB Kisan administrative representative gives you the card and the Kisan loan program.
• After that, to use the Kisan scheme, you need to go to your nearest Punjab bank and submit the challan form. The Punjab government has set a challan fee of Rs. 2000 for the Kisan scheme. To participate in the Farmer Loan Program, you must pay this challenge. Your eligibility will be verified and the agricultural loan will be granted if you meet the requirements.

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Eligibility criteria

The eligibility requirements for Kisan, which will enable you to apply for the loan, have been set by the Punjab government. Loan Program for Farmers.

• The applicant must own at least two hectares of land to qualify for the loan.
• He has never taken out a bank loan for agriculture before.
• You must own the land you are borrowing to qualify for a loan.
• It is not appropriate for borrowers to engage in any illegal activity.

conclusion

Chief Minister Punjab introduced the registration process of Kisan Karz program. In order to qualify for the loan, natural persons who wish to take advantage of this program must register at the office of the regional office closest to them as soon as possible. According to the Punjab government, people who own more than two acres of land will be eligible for this loan. The Punjab Bank will approve the farm loan proposed by the government, which would be worth Rs 30,000 per acre. This loan has no interest associated with its repayment.

Read also: Wazir E Azam Assistance Package 5566 – Eligibility Check and Registration Process 2024

Frequently asked questions

How much loan will I get if I own an acre?

The Punjab Bank will approve the farm loan proposed by the government, which would be worth Rs 30,000 per acre.

Is it necessary to own the land?

You must own the land you are borrowing to qualify for a loan.