Punjab Government Launches Interest-Free Livestock Card Scheme for Cattle Farmers in 2024

The Punjab government has introduced an innovative interest-free Livestock Card Scheme to bolster cattle farming activities throughout the province. This pioneering initiative aims to assist small and medium-scale farmers by providing financial support to procure essential livestock feed and manage animal care effectively. The program is set to bring substantial benefits to farmers, enhancing their livestock sustainability and overall productivity.

Eligibility Criteria for the Loan Scheme

For farmers to qualify for this interest-free loan scheme, specific conditions must be met. The scheme targets small and medium-scale farmers residing in Punjab, holding a valid Computerized National Identity Card (CNIC), and owning between five to ten calves or cattle. It is essential to have a clean credit history without any defaults, verified by the Electronic Credit Information Bureau (eCIB).

Application Process and Verification

The application process for the Livestock Card Scheme is user-friendly and accessible to interested farmers. Applicants need to register in the Punjab Livestock Department’s 9211 database and submit their applications online through the Punjab Information Technology Board’s (PITB) platform.

Loan Amount and Terms

Under this scheme, farmers owning up to ten animals can avail a loan of up to Rs. 270,000, with the amount varying based on the number of animals owned. The loan, spanning a maximum of 150 days, allows farmers to utilize funds for the first 120 days, followed by a 30-day repayment period. Monthly disbursements will facilitate purchasing feed like wanda, silage, and mineral mixtures through registered dealers via the Bank of Punjab.

Benefits for Cattle Farmers

The Livestock Card Scheme represents a significant stride towards strengthening the agricultural sector and fostering rural development. By offering interest-free loans, the Punjab government strives to extend crucial financial support to livestock farmers, enabling them to upkeep their animals’ health and productivity without the burden of high-interest loans. This initiative is poised to substantially uplift the livelihoods of farmers across Punjab.

Conclusion

The introduction of the Livestock Card Scheme by the Punjab government signifies a groundbreaking support system for cattle farmers in the province. Through interest-free loans, the government is actively contributing to the well-being and sustainability of farmers, marking a pivotal moment in rural development and agricultural prosperity.

FAQs

Who is eligible for the Livestock Card Scheme?
The scheme caters to small and medium-scale livestock farmers in Punjab with five to ten animals, possessing a valid CNIC and active mobile SIM.

How much loan can a farmer receive?
Farmers owning five animals are eligible for Rs. 135,000, while those with ten animals can avail up to Rs. 270,000.

What is the loan repayment period?
Farmers have 120 days for fund utilization and an additional 30-day repayment period, totaling 150 days for the loan duration.

How can farmers apply for the scheme?
Farmers can apply online via the Punjab Information Technology Board (PITB) platform post-registration with the Punjab Livestock Department’s 9211 database.