ISLAMABAD: Sindh Bank on the directions of Department of Agriculture, Sindh has invited applications from farmers to determine their eligibility for 2 – 3 Lacs subsidy on purchase of locally manufactured tractors. Sindh Bank Ltd. will award the subsidies by the process of balloting.
The subsidies will be awarded to individuals on the basis of District Quota allocated by the Government of Sindh based on the area under cultivation in respective districts, private news channel reported.
The farmers applying for subsidy will have to do so in their respective districts where they own the land. A list of 60 branches has been released on Sindh Bank website.
Sindh Government has also mentioned the name of local manufacturers who will provide the locally manufactured tractors: Al Ghazi Tractors, Millat Tractors, MTW Pak Assembling Ltd. and Orient Automotive Industries.
Farmers, who are residents of Sindh, must own more than 25 acres of land will be awarded the said subsidies. Furthermore, Individuals who are awarded the subsidy will not be eligible to sell tractors or transfer ownership of said tractors for at least three years.
According to the official documents, Farmers buying tractors worth 9 lacs will be awarded a subsidy worth 2 Lac rupees, whereas, those who decide to buy tractors worth more than 9 lacs will be given a subsidy of 3 lac rupees.
The list of successful farmers who are accepted after the balloting will be uploaded on www.sindhbankltd.com and www.sindhagri.gov.pk. Successful applicants will have to deposit the total sum minus the subsidy they are eligible for in Sindh Bank beforehand after which the Department would pay for the difference amount.
However, the details of quota and the basis for the distribution of quota was not mentioned in the papers. The quota appropriation and determination is at the leisure of Agriculture Department, Government of Sindh.