Kisan Card 2nd Phase
The Punjab government has officially launched the Kisan Card 2nd Phase, expanding its benefits to small and medium farmers with landholdings of up to 25 acres. This initiative aims to provide financial assistance to more farmers so that they can improve their agricultural production. An increase in the loan amount through the Kisan Card is also being considered, the final approval of which will be given by Punjab Chief Minister Maryam Nawaz.
Steps are being taken to provide more facilities to farmers through the Kisan Card, including permission to withdraw 30 percent cash and purchase diesel. The provincial agriculture minister, objecting to the transaction charges imposed on farmers, has stressed the need for their immediate abolition. In addition, an insurance scheme is being introduced for the cotton crop, after which an insurance scheme will be made for other important crops.
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54 billion for the betterment of farmers
The Punjab Chief Minister has approved a budget of Rs 54 billion for the betterment of farmers, out of which Rs 34.7 billion has been purchased. The largest amount from this fund has been spent on the purchase of fertilizers. In addition, the Bank of Punjab will provide modern agricultural machinery at a cost of Rs 50 billion in three years, while farmers will also given interest-free loans of up to Rs 50 million, which can repaid in five years.
The second phase of the Kisan Card will start on May 16, which aims to provide financial assistance for the Kharif crop. On this occasion, the Chief Minister of Punjab will also make an important announcement at the launching ceremony of the Green Tractor Program. If you want to benefit from the Kisan Card, then take advantage of this important opportunity and complete your registration as soon as possible.
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Increase in Loan Limit Under Kisan Card
To further support farmers, the Punjab Agriculture Department has proposed an increase in the loan limit per acre under the Kisan Card scheme. The final decision on this enhancement will taken by Chief Minister Maryam Nawaz Sharif. The government is also working on mechanisms to allow farmers to use their Kisan Cards to purchase diesel, alongside the existing 30% cash withdrawal facility.
Additionally, concerns regarding transaction charges on purchases made through the Kisan Card have been raised. The Provincial Agriculture Minister has emphasized the need to eliminate these additional charges to ensure that farmers get maximum financial relief.
Benefits of Kisan Card
The Kisan Card offers multiple advantages to farmers, ensuring financial stability and access to essential agricultural resources:
- Easy Access to Agricultural Loans – Farmers can get interest-free loans for purchasing essential farming inputs.
- Subsidized Fertilizers and Seeds – A significant portion of Kisan Card funds are used to subsidize fertilizers and quality seeds.
- Cash Withdrawal Facility – Farmers can withdraw up to 30% of the loan amount in cash for miscellaneous expenses.
- Diesel Purchase Option – The government is working on allowing diesel purchases through the Kisan Card.
- Crop Insurance Program – A pilot project has been launched for cotton crop insurance, with plans for other major crops.
- High-Tech Farm Machinery – Under the bank financing program, farmers will receive advanced agricultural machinery through interest-free loans.
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Kisan Card Registration Method
Farmers interested in applying for the Kisan Card can follow these steps:
- Visit the Nearest Bank of Punjab Branch – Fill out the Kisan Card application form.
- Provide Required Documents – Submit CNIC, land ownership documents, and proof of agricultural activity.
- Verification Process – The authorities will verify eligibility before approval.
- Receive the Kisan Card – Once approved, the farmer will receive a Kisan Card linked to their bank account.
Eligibility Criteria for Kisan Card
To qualify for the Kisan Card, farmers must meet the following conditions:
- Must be a resident of Punjab.
- Should own agricultural land (up to 25 acres for small and medium farmers).
- Must have a valid CNIC and be registered as a farmer.
- Should engage in crop cultivation and related activities.
- Must not have any loan default history with banks.
Pilot Project for Crop Insurance and Loan Financing
A pilot project for cotton crop insurance has been initiated under the Kisan Card scheme. The Punjab government has also ordered the preparation of a disaster crop insurance plan for other important crops, ensuring financial security for farmers in case of crop damage.
Under the bank financing program, the Bank of Punjab will provide 25 types of high-tech farm machinery to farmers. Over the next three years, the bank will invest Rs. 50 billion in this project. Farmers will be eligible to receive interest-free loans of up to Rs. 50 million for purchasing modern agricultural equipment, with a repayment period of five years.
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Financial Overview and Upcoming Announcements
So far, the issuance of 535,000 Kisan Cards has been approved. The Punjab government has allocated Rs. 54 billion for this program, of which Rs. 34.7 billion has already been utilized 86% of which was spent on fertilizers.
The second phase of loan distribution through the Kisan Card will commence on May 16, focusing on the Kharif crop season. Additionally, Secretary Agriculture Punjab, Iftikhar Ali Sahu, has hinted at a major announcement by Chief Minister Punjab at the upcoming launch ceremony of the Green Tractor Program later this month.
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Frequently Asked Questions (FAQs)
1. Who can apply for the Kisan Card?
Farmers owning up to 25 acres of land in Punjab and engaged in agricultural activities can apply.
2. Can I use the Kisan Card for multiple purposes?
Yes, the Kisan Card allows farmers to buy fertilizers, seeds, and diesel and also provides access to cash withdrawal facilities.
3. Is the Kisan Card completely interest-free?
Yes, loans provided under the Kisan Card scheme are interest-free.
4. What is the loan repayment period?
Farmers can repay the loan within five years.
5. When will the second phase of the Kisan Card loan begin?
The second phase will start on May 16, covering the Kharif crop season.
6. How many farmers have received Kisan Cards so far?
So far, 535,000 farmers have issued Kisan Cards, with Rs. 34.7 billion already spent on agricultural purchases.
7. How can I check my application status?
Farmers can visit the Bank of Punjab or check their status through official government portals.
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Conclusion
The second phase of the Kisan Card initiative marks a significant milestone in Punjab’s agricultural reforms. By expanding benefits to small and medium farmers, increasing loan limits, launching crop insurance programs, and financing modern machinery, the government aims to strengthen the agricultural sector and enhance farmers’ financial stability. Farmers are encouraged to take full advantage of this scheme to boost their productivity and economic well-being.