Electronic Warehouse Rest System approved to curb wheat fraud, help farmers

The Punjab Chief Minister (CM), Maryam Nawaz, approved the Electronic Warehouse Rest System to make the wheat procurement process transparent, effective, and modern.

According to sources, Maryam Nawaz has issued instructions to ensure the immediate implementation of this system and has formed a steering committee headed by the finance minister, which will submit a progress report to the CM on a daily basis.

Maryam Nawaz has also directed that the matter be submitted to the cabinet for approval on an urgent basis so that the system can be implemented as soon as possible.

The Electronic Warehouse Inventory System will enable timely payment to receivers through transparent monitoring and instant digital registration of stored wheat while protecting farmers from fake receipts and fraud.

The system will enable automatic quality checks of public and private warehouses.

The system will ensure the availability of accurate data to stabilize the prices of agricultural products while facilitating easy market access and reducing logistics costs and facilitating transparent approval of crop loans for banks.

Earlier, Maryam Nawaz has announced a comprehensive and historic package for wheat farmers, under which farmers will be provided with direct financial assistance, free storage facilities, and tax concessions.

The Chief Minister has approved funds of Rs 15 billion under the “Wheat Support Fund,” from which direct financial assistance will be provided to farmers through Kisan Cards. Along with this, farmers will also be exempted from abyana and fixed taxes.

Added to that, to protect wheat from weather effects and market pressure, farmers will be provided with a free storage facility for 4 months. For this purpose, an electronic warehouse receipt system will be introduced in Punjab, under which farmers storing wheat will be provided with an electronic receipt, which they will be able to deposit in the bank within 24 hours and get a loan of up to 70 percent of the value of their wheat.

Earlier, the Punjab Government has officially ended the online application process for the CM Punjab Asaan Karobar Card, a specialized initiative for small and medium enterprises (SMEs) to obtain interest-free loans.

This program was launched on the direction of the Chief Minister to create an environment to foster entrepreneurship and self-employment throughout the province.

The application process existed on the Punjab Information Technology Board (PITB) website. Citizens could apply by entering their CNIC and mobile number, paying a non-refundable fee of Rs. 500, and submitting information concerning their personal and business.

Under this plan, eligible applicants can qualify for interest-free loans of as much as Rs. 1 million. You’ll pay back the loan over three years, inclusive of a three-month grace period and a 12-month revolving credit option. The loan can be used for business purposes, such as paying suppliers, paying utility bills, or purchasing equipment.