Punjab Government will pay off loans to the tune of Rs 590 crore of 2,85,325 members of the Primary Agricultural (PACSs), thus ensuring a relief of Rs 20,000 per member, said the Chief Minister.
He directed the Finance and Cooperation Departments to kick off the process for effective implementation of the decision on the ground.
Punjab Government has formulated a Debt Relief Scheme for Farm Labourers and Landless Farming Members of PACS-2019, which will cover only Consumption Loan to the members of the Primary Agricultural advanced by District Central Cooperative banks in the state of Punjab through Primary Agricultural Cooperative Societies.