ISLAMABAD: The government is planning to launch a scheme to provide interest free loans to farmers for setting up new solar tube-wells.
The initiative will facilitate the small growers in reducing heavy expenditure incurred on diesel and electricity tube-wells.
It is estimated that the cost of half cusec solar tube-well may be up to Rs 1.1 million. Against a deposit of one hundred thousand rupees the government will provide interest free loans through the commercial banks. The government will pick up the mark-up cost on these loans.
Under this scheme mark-up free loans will be provided for thirty thousand tube-wells in the next three years. All farmers with land holdings up to 12.5 acres will be eligible to apply for this loan.