As per Lawkidunya, In Pakistan, agricultural loans are provided to farmers by various financial institutions, including commercial banks, specialized banks, and microfinance institutions, as per the laws and regulations of the country. Here are the details of agricultural loans for farmers in Pakistan as per law:

Types of Agricultural Loans For Farmers in Pakistan

1. Production Loan: This loan is provided to farmers for purchasing inputs, such as seeds, fertilizers, and pesticides, for crop production.
2. Investment Loan: This loan is provided to farmers for investing in agricultural infrastructure, such as irrigation systems, farm machinery, and livestock.
3. Working Capital Loan: This loan is provided to farmers for meeting their working capital requirements, such as purchasing inputs and paying labor costs.
4. Long-Term Loan: This loan is provided to farmers for long-term investments, such as purchasing agricultural land or constructing farm buildings.

Eligibility Criteria of Agricultural Loans For Farmers in Pakistan

1. Citizenship: The farmer must be a citizen of Pakistan.
2. Land Ownership: The farmer must own or lease agricultural land.
3. Farm Size: The farmer must have a minimum farm size of 5 acres.
4. Crop Selection: The farmer must grow approved crops, such as wheat, rice, cotton, and sugarcane.
5. Creditworthiness: The farmer must have a good credit history.

Application Process For Agricultural Loans For Farmers in Pakistan

1. Registration: The farmer must register with the relevant financial institution.
2. Submission of Documents: The farmer must submit required documents, such as land ownership documents, farm size documents, and crop selection documents.
3. Verification: The financial institution will verify the documents and inspect the farm.
4. Approval: The financial institution will approve the loan application and disburse the loan amount.

Interest Rates For Agricultural Loans

1. Concessional Rate: The government provides a concessional interest rate of 5-7% per annum for agricultural loans.
2. Market Rate: The financial institutions may charge a market rate of interest, which may vary depending on the institution and the loan product.

Repayment Terms For Agricultural Loans

1. Repayment Period: The repayment period for agricultural loans may vary from 3-10 years, depending on the loan product and the financial institution.
2. Installment Schedule: The farmer must repay the loan in installments, which may be monthly, quarterly, or half-yearly.

Important Laws and Regulations For Agricultural Loans

1. Agricultural Credit Act, 1973: This act regulates the provision of agricultural credit to farmers.
2. Banking Companies Ordinance, 1962: This ordinance regulates the banking sector and the provision of loans to farmers.
3. Microfinance Institutions Ordinance, 2001: This ordinance regulates the microfinance sector and the provision of loans to farmers.

References

1. State Bank of Pakistan: This is the central bank of Pakistan, which regulates the banking sector and the provision of loans to farmers.
2. Agriculture Department: This department is responsible for promoting agricultural development and providing support to farmers.
3. Pakistan Agriculture Research Council (PARC): This council is responsible for conducting research and development in the agricultural sector.