Islamabad: Prime Minister Nawaz Sharif has announced package for farmers of over Rs 341 billion today.

Addressing the Kisan convention at Convention Centre in Islamabad, he said the package envisages direct cash assistance to the farmers, relief in prices of agriculture inputs, provision of agriculture loans and implying the procedure of loans.

Nawaz Sharif announced that 40 billion rupees will be spent for payment of cash grants to the small growers of rice and cotton. He said the government has decided to give cash assistance of 5000 rupees per acre, to the farmers having land of 12.5 acre.

Referring to the plight of cotton growers, the Prime Minister said floods and rains have inflicted heavy losses to the cotton farmers.

Therefore, the government has decided to give cash assistance of 5000 rupees to the cotton grower on the pattern of rice growers. The Prime Minister said, reduction in prices of commodities and increase in the prices of agriculture inputs have raised the cost of production.

Nawaz Sharif said that the international community acknowledges betterment in Pakistani economy.

Speaking about security situation, Prime Minister said law and order situation in Karachi has improved.