AreaPakistan

Commodity GroupRice

CommodityAll

Date26/05/2017

Policy CategoryProduction

Policy InstrumentBudgetary allocations, production support

DescriptionAs part of its budgetary allocations, announced that it would maintain subsidies on fertilizer prices and electricity rates for agricultural tube wells in 2017/2018. Among other measures to promote agricultural production growth, it would also reduce customs duties levied on combine harvesters, along with sales taxes on agricultural diesel engines. In addition to raising the agriculture credit target for 2017/2018 by 43 percent to PKR 1 001 billion (USD 9.5 billion), it also announced that it would launch a new credit scheme providing smallholders cultivating up to 12.5 acres (5.1 hectares) with up to PKR 50 000 (USD 473.5) of credit at a concessionary rate of 9.9 percent per year.

NotesExchange rate as of 1 July 2017.