ISLAMABAD: Finance Minister Dr Abdul Hafeez Shaikh has reiterated the government’s firm commitment to uplift the agriculture sector through effective and speedy implementation of the Agriculture Transformation Plan.
The finance minister said this while chairing a meeting on the Agriculture Transformation Plan at the Finance Division on Monday. The meeting reviewed the progress on the directions of the prime minister to enhance agriculture credit for the farming sector.
The finance minister urged all concerned to come up with a clear action plan along with timelines and a responsibility matrix to finalise different proposals presented in the meeting. He constituted a 5-member committee comprising law secretary, food secretary and SBP governor to complete the task.
The deputy governor State Bank of Pakistan (SBP) made a presentation on the consultative process followed with key stakeholders and detailed proposals to enhance the agriculture credit.
It was recommended to make the Loan for Agriculture, Commercial & Industrial Purposes (LACIP) Act, 1973, effective by bringing amendments in areas of foreclosure and simultaneously streamlining procedures for swift processing of agriculture loans. It was also emphasised that judges against vacant positions in banking courts need to be appointed on priority.
