LAHORE: The Bank of Punjab (BoP) and the Punjab Livestock and Dairy Development Department (P&DDD) on Tuesday signed a Memorandum of Understanding (MoU) for launching the “Livestock Card” enabling the livestock farmers to get cash for the inputs needed for fattening to produce more meat.

The Chief Minister Punjab Livestock Card’s MoU signing ceremony was held at the Bank of Punjab Head Office in Lahore. With this documentation, the registration process for the livestock card has also been commenced.

Provincial Minister for Livestock and Agriculture, Syed Ashiq Hussain Kirmani, and Parliamentary Secretary for Livestock Punjab, Sardar Asim Majeed, were also present at the event. The MoU was inked by the Secretary of Livestock Punjab, Saqib Ali Ateel and the President of the Bank of Punjab, Zafar Masood.

In his address at the event, Syed Ashiq Hussain Kirmani stated that the Livestock Card is an interest-free loan program worth Rs11 billion for livestock farmers. He mentioned that 80,000 livestock farmers will benefit from this scheme, and 400,000 animals will be prepared for the fattening program. The standard meat produced will meet local needs as well as export.

The Minister further stated that interest-free loans would be provided in equal installments for four months, with a loan of Rs27,000 per animal. The loan facility will be available to livestock farmers ranging from Rs135,000 to Rs270,000. He also mentioned that the Livestock Card will become active for purchase from December 15. Livestock farmers will be able to buy silage, feed, and mineral mixtures from registered dealers.

He pointed out that previous governments had neglected the livestock sector, but for the first time, the Chief Minister of Punjab has allocated Rs20 billion for the development of the livestock sector, benefiting small farmers with 5 to 10 animals. The Livestock Department will manage the tagging, vaccination, and insemination of these animals. He added that farmers who produce healthy animals will be linked with major exporters in Punjab. The Livestock Department is also working on creating compartments, zones, and conducting ongoing research within the province.

Kirmani concluded by stating that the Chief Minister of Punjab is committed to the welfare and development of livestock farmers, which will not only lead to the prosperity of farmers but also contribute to the overall prosperity of Punjab.

The ceremony was attended by Dr. Muhammad Ashraf, Director General (Extension) of Livestock, Dr. Sajjad Hussain, Director General (Research) of Livestock, Naufal Daud, Group Chief Corporate and Investment at Bank of Punjab, Asad Zia, Head of Marketing at Bank of Punjab, and other officials.

Copyright Business Recorder, 2024