Gujrat: Punjab has launched a new electronic wheat procurement system aimed at modernizing the process.
A key meeting, chaired by Gujrat Deputy Commissioner Safdar Hussain Virk, brought together farmers, traders, flour mill owners, and officials from the food and agriculture departments.
The initiative focuses on the Electronic Warehouse Receipt System (E-WRS), which allows farmers to store their wheat in designated warehouses for up to four months at no cost. After storage, farmers will receive an electronic receipt, enabling them to secure an interest-free loan of up to 70% of the wheat’s value from the Bank of Punjab.
This system allows farmers to sell their wheat at competitive rates without removing it from storage, with the buyer paying based on the receipt.
Safdar Hussain Virk said the program provides significant benefits to small and medium-sized farmers, including insurance coverage for the stored wheat. Special assistance has also been extended to farmers with one to five acres of land, who will receive Rs. 5,000 per acre for crop preservation.
He urged all departments to launch awareness campaigns to ensure maximum participation in the program, which he described as a crucial step in strengthening Punjab’s agricultural economy.