LAHORE: The Punjab government is considering offering interest-free loans up to Rs50 million to service providers, importers, manufacturers, and farmers willing to purchase machinery.

Under the Chief Minister`s High-Tech Financing Programme, a proposal is under consideration for providing interest-free loans worth Rs50 million to service providers, importers, manufacturers and farmers willing to purchase machinery collectively, Punjab Agriculture Minister Ashig Kirmani told a meeting.

Agricultural machinery importers, service providers and manufacturers besides the department`s officers were present at the meeting here on Wednesday.

Mr Kirmani said stakeholders were being consulted to incorporate practical suggestions into the upcoming budget for launching this mega programme for the promotion of agricultural mechanisation.Additionally, the agricultural extension and universities would also collaborate to provide practical training for machinery operators and farmers, he added.

The minister said that during her recent visit to China, the chief minister took a keen interest in agricultural mechanisation. He said that Pakistan`s agricultural mechanisation stands at only 35 percent compared to 70pc in Europe. To promote agricultural mechanisation in the province, under the Green Pakistan Initiative, agrirental services at tehsil level are also being launched.

Agriculture Secretary Iftikhar Ali Sahoo said that achieving crop production targets is impossible without the use of modern agricultural machinery and under the High-Tech Financing Programme, 25 types of agricultural machinery would be made available for rent through service providers to promote mechanization in the province.-Staff Reporter