This morning we are honoured to have Assistant Minister for Sugar to launch this promotion. One can use FNPF Housing Eligibility to buy a farm, buy a farm and construct farm house, buy a farm with house, reduce farm loan. This all can be done through SCGF.
This package is targeted to working class professionals and also to those who would be retiring in the next 10-15 years. You will never go wrong with cane farming as it withstands unfavourable weather conditions and you do not have to look for market, said Mr Sharma.
The investment of $80,000 (house with 10 acres of cane) producing 250 tonnes, gives net income of $6250 , a Return on Investment of 7.8% .In addition to sugar cane, there is room for other crops for food security- cash crops, vegetables, rice. You have to contribute 33 percent of that cost that may come from FNPF and the rest is funded at 6 percent interest rate, repayable over either 12 or 15-year term, provided loan is paid off 5 years before lease expiry. We also have very competitive fees and charges, said Mr Sharma. Now application can be lodged through our digital platform – mySCGF App.