Lahore: The Punjab government has fully repaid the wheat commodity loan it had taken from local banks, freeing the province from debt for the first time in 30 years.

According to Radio Pakistan, the Punjab government has cleared the entire 675 billion rupees loan obtained for wheat procurement and subsidies. This repayment marks a significant financial milestone for the province, which has been managing such debts for decades. The loan had been used to facilitate the procurement of wheat and to provide subsidies, which are essential for maintaining food security and supporting local farmers.

By settling this substantial debt, the Punjab government aims to improve the province’s financial standing and allocate resources more effectively in the future. The repayment is expected to have a positive impact on the province’s economy by reducing the financial burden and potentially allowing for more investment in development projects.