AreaPakistan

Commodity GroupRice

CommodityAll

Date03/06/2016

Policy CategoryProduction

Policy InstrumentProduction support

DescriptionAs part of its 2016/2017 budgetary allocations, announced that it would extend fiscal concessions approved under last year\'s budget for a further year. The target on agricultural credit disbursements was raised to PKR 700 billion (USD 6.6 billion), with a PKR 1 billion (USD 9.5 million) set aside for the credit guarantee scheme and steps to lower the mark-ups on loans by 2 percent also announced. In addition, prices of urea and diammonium phosphate would be cut further, pesticides exempted from sales taxes, and electricity charges on agricultural tube wells lowered by 40 percent, effective from 1 July 2016.

NotesExchange rate as of 1 July 2016.