LAHORE: Ch. Muhammad Fargham vice-chairman Pakistan Poultry Association (NR) has called for a bailout package to rescue the poultry industry, as almost 35-40 percent poultry farms have been closed while rest of the sector is facing heavy losses due to prolonged closure of Marriage Halls and Hotel Industry amidst corona pandemic.
Addressing a press conference, he said the poultry sector has been facing losses for the past 6 months due to a high cost of production coupled with falling purchasing power of consumers. He stressed that the cost of production has increased manifold as the borrowing cost soared and capital financing became more expensive.
He suggested that the government should introduce a policy to uplift the businesses hit hard by Covid-19 besides launching financial programs for the revival of closed industrial units. In that regard, first priority should be given to the food sector, which was vital to ensure food security, he said. He said that banks should provide loans according to the SBP directives and without the condition of showing past records. He also requested the following relief to be provided immediately to the Poultry Sector:
- To provide loans on lowest markup Rates to the farms and companies.
- To sanction new loans for the farms so that they could continue Poultry Production activity.
- To exempt Import Duty and all taxes on Poultry Vaccines, Medicines, Raw Material and Machinery so that cost of Production could be reduced.
He said that farmers have lost heavily during few months while majority of them have lost their entire working capital and if any relief package is not announced the whole poultry sector will collapse, he warned.
