Chitral Times Report
ISLAMABAD: Ministry of National Food Security & Research (NFS&R) has practically launched its Agriculture Fiscal Package for the financial year 2020-21. Finance Division has released funds for the White Fly Pesticide subsidy. The quantum of this subsidy is Rs. 6 billion (bn). The provinces will disburse this subsidy to registered growers. The Sales Tax subsidy on locally manufactured tractors is also being disbursed. There are two main manufacturing units in Pakistan viz. Massey Ferguson and Al-Ghazi having market share of 60% & 40%, respectively. At present 5% sales tax is applied on the sale of each tractor. Annual sale of both the units during 2019 was 41,000 units and average sales tax is around Rs.60.000 per tractor. Sales tax subsidy to locally manufactured tractors is being offered for one year. The total cost of subsidy is Rs.1.5 billion. Federal Board of Revenue will notify GST subsidy (set aside 5% GST on locally manufactured tractors for one year). Local Tractor manufacturers will report to FBR and the Ministry on 5th day of every following month. Ministry of National Food Security & Research may ensure through Forensic Audit on quarterly basis to confirm proper utilization of the subsidy for the benefit of farmers. The Agriculture Fiscal Package was announced by the Prime Minister in wake of Covid-19 pandemic. Mechanism has been developed for mark-up subsidy on all loans for 12.5 acres of land holding, disbursed by ZTBL with pass book as collateral, during financial year 2020-21 only. An amount of Rs. 6.861 Billion (bn) has been allocated. All Agri-loans (Production & Development) shall be eligible under the subsidy scheme. Loans disbursed during fiscal year 2020-21 and outstanding as of June 30th, 2020 (for which mark-up will be accrued during July 1, 2020 to June 30, 2021) shall be eligible in the subject scheme. The borrowers availing any other subsidy scheme shall not be eligible for this scheme. The defaulted borrowers, who repay/settle their loans, shall be eligible for the scheme for the subsidy period. The borrowers availing deferment/re-schedulement facility of State Bank of Pakistan shall be eligible for this scheme.
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Food Security and Nutrition information system will be established by FAO at NFSR.. Syed Fakhar Imam
Chitral Times Report
ISLAMABAD: Food Security and Nutrition Information System(FSNIS) will be established by Foid and Agriculture Organization (FAO) at Ministry of National Food Security and Research (NFSR).This was said by Federal Minister for National Food Security and Research,Syed Fakhar Imam on Tuesday while meeting the delegation of FAO. Due to FSNIS agricultural data, from 1997 till now,will be available electronically. He said that we need to upgrade our seed technology. FAO delegation briefed minister about the Hand?in?Hand Initiative (HiHi).This initiative represents a bold step to eradicate poverty and end hunger and all forms of malnutrition by accelerating agricultural transformation and sustainable rural development. In doing so, the Initiative contributes to the attainment of all the other Sustainable Development Goals.Hand?in?Hand is designed to work in countries that have multiple donors and existing coordination mechanisms, as well as in those that lack broad or strong donor support.In the first case, which is the situation in most developing countries, FAO will offer its multidimensional GIS data platform to host countries and the existing international partners to identify critical areas of policy intervention and public investment to unlock the potential for ending poverty and hunger. The goal is to complement existing information and bolster existing coordination mechanisms. In countries that lack strong donor support, Hand?in?Hand will identify new donors and give them access to the GIS data platform. Central to Hand?in?Hand is the use of data and modelling to target investments. Poverty maps are widely?used tools to guide rural development policies, and maps of agro?ecological zones have helped prioritize agricultural investments. But Hand?in?Hand is the first of its kind that combines poverty, market, agro?ecological and farm?level information to identify agricultural areas where there is potential for farmers to achieve their potential income and move out of poverty. The topography platform can also estimate returns of investments and match resources with needs. In addition, FAO will provide all the policy tools it has to bring solutions to areas where there are significant opportunities for farmers to increase their income; for areas where agriculture in its current conditions is not a feasible solution, it will bring alternative solutions that could stimulate non?farm incomes and attract investments. In case of HiHi, Pakistan comes under food crisis and higly populated country.
