SAHIWAL: Chief Minister Marriam Nawaz launched on Thursday the Livestock Credit Card scheme with an initial allocation of Rs20 billion at a ceremony in Pakpattan.

Speaking to farmers, divisional and district level heads of different public sector departments, PML-N parliamentarians and Bank of Punjab high-ups, she said interest-free soft loan would help farmers rear calves.

She said a loan ranging from Rs135,000 to Rs270,000 can be used to purchase feed supplements. The scheme would also connect farmers with the market, especially exporters, through a digital framework.

Targeted beneficiaries -40,000 to 80,000 farmers -will be issued Livestock Cards by the Bank of Punjab. The credit will be disbursed for targetedanimal population having 400,000 male calves.

Sources said one loan cycle period would consist of 150 days, including 120 days for loan utilisation and 30 days for repayment.

Each farmer can get loan ranging from Rs135,000 to Rs270,000 depending upon the number of animals and herd size of five to 10 animals.

Livestock official Rana Abdul Rauf said response to the scheme was overwhelming. He said 3,466 farmers applied for the card in Pakpattan and of them 881 were selected (for disbursement of cards).

`Around 8,200 farmers applied for the card in Sahiwal division consisting of three districts of Pakpattan, Sahiwal and Okara,` he said.

The first credit card was received by Fatima Bibi.

Sahiwal Commissioner Shoeb Iqbal Syed told Dawn the CM inaugurated three road projects in Pakpattan.