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In this file photo, a farmer in Multan sprays pesticide in a field. APP/File
ISLAMABAD: The federal government will allocate funds in the upcoming budget 2021-22 to develop high-yielding crops to meet growing domestic demand and reduce dependence on import of basic food items.
Ahead of the budget, the National Price Monitoring Committee (NPMC) has constituted a two-member sub-committee comprising Minister for National Food Security Fakhar Imam and Industries Minister Khusro Bakhtyar to work out a lasting arrangement by exploring alternative options to reduce dependence on import of edible oil and other basic food items.
The decision was reached at the NPMC meeting chaired by Finance Minister Shaukat Tarin. The panel was constituted owing to significant volatility in international prices of edible oil.
The government is considering floating an international tender for import of 50,000 tonnes of the sweetener to maintain its price within the official retail rate. Reuters/File
ISLAMABAD: With falling sugar prices in the world market, the government is considering floating an international tender for import of 50,000 tonnes of the sweetener to maintain its price within the official retail rate.
A meeting of the National Price Monitoring Committee (NPMC) presided over by Minister for Finance, Revenue and Industries Hammad Azhar on Monday discussed the proposal.
Last week, the federal cabinet reversed a decision of the Economic Coordination Committee to allow the import of 0.5 million tonnes of white sugar from India via land route. The import of sugar through the land route is cheaper than via sea.
Meeting considers lifting moribund farm sector
Officials say agriculture not growing to its potential; PM forms panel for reforms
ISLAMABAD:
The share of the agriculture sector in Pakistan’s Gross Domestic Product (GDP) is lesser than its actual potential and the country grows lesser quantities of wheat, rice, corn, cotton and sugarcane when compared with other countries of the region in terms of per acre yield.
However, the contribution of the agriculture sector in the GDP can be increased from the existing $49 billion to $74 billion by 2031 by adopting an effective strategy and giving financial and technical assistance to the farmers, officials told Prime Minister Imran Khan on Monday.