PTI Govt launches Rs 309.7 billion program to elevate agricultural economy
- The government announced to launch Prime Minister’s National Agriculture Emergency Program worth Rs309.7 billion.
- The program is aimed at boosting yields of major crops and 16 projects in the agriculture sector would be launched under it.
- The previous governments ignored the agriculture sector however, the incumbent govt would establish new agriculture markets.
In a bid to uplift the agricultural economy, the government is going to launch Prime Minister’s National Agriculture Emergency Program worth Rs309.7B.
In order to boost yields of major crops, 16 projects in the agriculture sector would be launched at a cost of Rs309.7 billion under the Prime Minister’s agriculture program.
Four of these projects will be launched at a cost of Rs44.8 billion and would have a provincial share of Rs7.4 billion.
Three projects worth Rs220 billion will focus on conserving and increasing water productivity. Another three projects costing Rs13.9 billion will harness the untapped potential of fisheries.
The Prime Minister’s program will drastically increase agricultural spending over the next five years, by 360%.
The federal government share will be Rs85 billion, the share of provincial governments will be Rs175 billion and the share of farmers will be Rs50 billion.
The government is planning to invest Rs44.8 billion with a federal share of Rs7.4 billion in four livestock projects for small and medium-scale farmers.
At the cost of Rs23.6 billion, two projects will be started without federal share to transform Punjab’s agriculture produce markets. However, Sindh has not responded despite repeated calls by the federal government.
Jehangir Tareen, Pakistan Tehreek-e-Insaf (PTI) leader, Federal Minister for National Food Security and Research Mehboob Sultan said Prime Minister Imran Khan had taken initiatives to bring improvement in the agriculture sector.
More than 100 meetings were held in major cities across the country to formulate a strategy in consultation with the provinces to implement the emergency program.
Last year, the import bill of Pakistan for major agricultural commodities peaked to $4 billion. The government would spend Rs309 billion under the program to enhance yields. He also invited Sindh to participate in the program for the betterment of the sector.
“The program will get an additional boost of Rs15 to Rs18 billion in agriculture development if Sindh participates,” said Tareen.
PTI leader Jehangir Tareen said that the previous governments had ignored the sector and allocation of funds for agriculture in the last 10 years.
“Total agriculture development spending is decreasing drastically by 60%. Provinces did not play their due role in taking initiatives meant for increasing crop yields,” he added.
The government would increase funds in the next five years for their welfare. The government is also planning to set up five new markets and the existing markets would be upgraded. As the price of sugar has been increased due to the increase in sales tax, the government would also take action against those who are involved in hoarding.