PTI Govt to seriously focus on the agricultural sector – Finance Minister
Minister for Finance Asad Umar has said PTI government is focusing to promote agricultural sector
- He terms the agriculture as the backbone of the Pakistan and PTI Govt sees it as a top priority.
- While talking to a private news channel, the Finance Minister said that the government is focusing on improving agricultural productivity.
PTI Govt Steps to enhance financial resources:
Asad Umar said that steps are being taken to enhance financial resources for putting the institutions on the path ofspeedy progress.
Facilities for the farmers:
The Minister said that concrete measures are being taken to provide loan and other facilities to farmers. Electric and fertilizerfacilities will be provided to farmers at affordable rates.
Pakistan Economy Watch:
In a report, the Pakistan Economy Watch(PEW) stated that agriculture is the backbone of the economy. Therefore, itshould get the attention it deserves.
The agriculture sector contributes around18% to the GDP, employs 42% of the total labor force, and constitutes75% of the total exports revenue.
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“Itis impossible to ensure national development while keeping agriculturaldevelopment on the backburner,” said Dr. MurtazaMughal, President PEW.
Cost of doing business for farmers
The cost of doing business for the farmers should not be increased to improve share of this critical sector in the national GDP, he said.
Circumstances and some policies continue to push farmers to prefer low-cost crops over high-value crops whiledifferent packages announced in the past have not helped achieve results.
The President also noted that the high cost of inputs continues to reduce production which has been contributing to poverty in the rural areas.
The importance of agriculture:
He said that agriculture is no more the largest sector of the economy but it continues to provide jobs to the majority of the labor.
Growth in this sector has remainedunimpressive during the last ten years which proves apathy of the policymakers,President said.
Agriculture sector is a vital component of Pakistan’s economy. It provides the raw materials to down the line industries and helps in poverty alleviation.
The government is focusing onimproving agricultural productivity. The overall objective is to achieve asustained agriculture growth rate to support the overall GDP growth trajectory.
PM Khan’s take:
Earlier, the Prime Minister Imran Khan hadexpressed concern over the state of affairs in agriculture. He asked forboosting agriculture sector since it is major plank of his government agenda.
Meetings for agriculture
In October, at Prime Minister’s Office, PM Khan had also chaired a meeting on agriculture. He was informed that the country’s agriculture had been stagnant for past many decades.
Agriculture sector is a vitalcomponent of Pakistan’s economy. It provides the raw materials to down the lineindustries and helps in poverty alleviation.
Prime Minister Khan had said that there is a need to support farmers and help them in adopting best practices. Pakistan could greatly benefit from the Chinese expertise in the agriculture sector.
As part of PTI’s agenda of placing greater focus on the agriculture sector, various projects are being planned to increase crop yield and productivity.