Punjab creates special fund to prevent distress selling by farmers

CHANDIGARH: Punjab chief minister Parkash Singh Badal on Monday approved creation of a price stabilisation fund for farmers to save them from distress selling of crops in open market.

Interacting with a delegation of the Bharti Kissan Union delegation led by Punjab Mandi Board chairman Ajmer Singh Lakhowal, the chief minister said the state government has already released funds worth `80 crore to ensure free crop loan up to `50,000 for farmers.

Apart from ensuring ensure better remunerative prices to the peasantry for their produce, the fund would offer marketing support to offset the negative impact of marketing forces, said Badal.

Acceding to a BKU demand, Badal also approved to appoint educated farmers and arhtiyas, on the state-level agricultural debt settlement tribunal and district-level debt settlement forums for implementation of the Punjab settlement of agricultural indebtedness Act-2016.

The CM also directed the Punjab State Power Corporation Limited (PSPCL) chairman to clear the backlog of general category tubewell connections pending since 1992 and release the tubewell connections under priority category of 2.5 and five acres.

He also asked for tubewell connections to farmers having land across the border fence.

The CM said the state government was in constant touch with the Centre to remove certain shortcomings in new crop insurance scheme to make it a more ‘farmer friendly.

Badal said the state government was making every effort to save the legitimate share of the state in river waters.