Business News

initiative in the FY 2017-18, Benazir Income Support Programme
(BISP) beneficiary families, who are willing to start their own
businesses will be provided with training as well as a one-
time cash grant of Rs 50,000 to start their own business and
become productive members of society.
Initially this grant is proposed to be provided to
250,000 families, he added.
In order to facilitate provision of electricity
to remote areas and small cities where there are no
transmission lines, Ishaq Dar said, the Government in
partnership with the World Bank, will introduce solar-powered
off-grid electricity system for residents of small towns and
cities in sparsely populated areas of the country with special
focus on Balochistan.
In the agriculture sector, he said, all previous schemes
and initiatives of the present government including the Kissan
Package announced by Prime Minister Nawaz Sharif in 2015; crop
loan insurance scheme; livestock insurance scheme; concession
of customs duty on dairy, livestock and poultry sector etc
will continue in the FY 2017-18.
The Finance Minister announced that from July 1, 2017,
ZTBL and National Bank of Pakistan will provide agri loans
upto 50,000 to small farmers with holdings of 12.5 acres at a
reduced rate of 9.9% per annum.
In order to facilitate the farmers, the volume of
agriculture credit is being enhanced to Rs 1,001 billion from
the last year’s target of Rs 700 billion which will be an
increase of 43%, he added.
As a further measure to support farmers, the Finance
Minister said, the government has already decided to sell the
existing stock of imported Urea Fertilizer available with NFML
at a concessional Rs 1,000 per bag.
In order to create ease of disbursement of subsidy on
DAP, it has been decided that DAP will be subject to fixed
sales tax. As a result, GST is being reduced from Rs 400 to
Rs 100. This will have a subsidy impact of Rs 13.8 billion, he
added.