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Pakistan to Convert Agriculture Tube Wells to Solar at Cost of $ 1 Billion

admin-augaf by admin-augaf
July 11, 2023
in Business, Finance
Reading Time: 1 min read
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Pakistan Central Bank Set Agriculture Credit Disbursement Target at Rs 1.8 Trillion

Pakistan Central Bank Set Agriculture Credit Disbursement Target at Rs 1.8 Trillion

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Islamabad July 11 2023: The Executive Committee of the National Economic Council (ECNEC) on Tuesday approved “Prime Minister’s National Programme for Solarization of Agriculture Tube Wells” aimed at facilitating the farming community and achieving food security in the country.

The ECNEC meeting, chaired by Minister for Finance and Revenue Senator Mohammad Ishaq Dar, accorded the approval for tube wells solarization in Punjab, Sindh, Khyber Pakhtunkhwa (KP) and Balochistan at a cost of Rs 377,236.275 million in three years.

“Phase-I of the project will have Rs 90 billion including Rs 30 billion of PSDP and equivalent share by provincial governments as well as beneficiary farmers for the financial year 2023-24. This project is to enhance agricultural productivity through clean and green energy by converting the existing 100,000 tube wells into solar PV system,” a news release said.

The project is to be executed by the Ministry of National Food Security through the Federal Water Management Cell (FWMC) and Provincial Departments of Agriculture.

Tags: Agriculture
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