A proposal to designate a bank that will offer long-term agricultural loans to farmers has been submitted to the parliament, MP Myint Oo told the Daily Eleven.
During the tenure of the current government, the loan disbursement to farmers has been increased to Ks 100,000 from Ks 40,000. But it cannot be said that this move would raise the livelihood of the farmers up, said Lower House Speaker Thura Shwe Mann at the mass meeting with local farmers.
“I have already submitted a proposal to designate a bank which can disburse long-and medium-term loans to farmers who have received farmland registration certificates as soon as possible,” said MP Myint Oo.
Ohn Than, deputy minister for agricultural and irrigation, said at the 11th session of lower house of parliament that respective departments were discussing designation of a bank which can offer loans to farmers holding farmland permits.
“Loan disbursements are not enough for farmers. Farmers who have already got the form No.7 should seek loans from banks. But the government has yet to implement this scheme. This matter will also include in the proposal. Loan disbursement period is a bit late for them. Sometimes they (farmers) get their loans in the harvest season. Farmers have no capitals,” Myint Oo added.
He said the government has failed to implement long-term agricultural loans. Banks could not disburse loans to them even with collateral. In addition, medium-term loans scheme has yet to materialise, adding that the matters will be discussed at the parliament.
Under the bylaws of the Farmland Law (2012), the farmland registration and the issuance of farmland permits have been taking place since January, 2013. Till 17 November 2014, form No.7 has been issued to 5.36 million farmers for 8.80 million plots of land, according to the deputy minister.
Due to land disputes and inaccessible places, farmland permits have yet to be issued to farmers in Kachin, Kayin, Mon, Rakhine and Shan States, the deputy minister added.