Finance Minister Ishaq Dar has said that mechanism for credit guarantee scheme for small and marginalised farmers must be devised at the earliest.

He was chairing a meeting to review the implementation status of the initiatives announced in the new federal budget in Islamabad on Saturday.

The meeting also reviewed the progress made on crop loan insurance scheme, livestock insurance scheme, increased agriculture credit availability, establishment of commodities warehouses, low cost housing guarantee scheme, mortgage refinance and PM's low cost housing scheme.

The participants was told that circulars for provision of incentives for processing industries in Makran, Gilgit-Baltistan, Swat Valley and FATA and air freight subsidy on horticulture produce from GB are being issued.

Notification with regard to enhancement of monthly stipend through Benazir Income Support Programme from 1200 to 1500 rupee has already been issued.  

Finance Secretary informed the meeting that blue print to establish Exim Bank of Pakistan will be completed by September this year and a legal framework through the act of parliament will be initiated thereafter.

He said that necessary notifications relating to reduction in markup rates of Exports Refinance Facility and Long Term Finance Facility have already been issued.

Finance Division is following up on the decisions for disposal of all pending sales tax refunds by 30th of September this year and in future disposal of sales tax refunds will be ensured within three months by the FBR.

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