Practical Methods Could Double Agricultural Sector's Impact on Economy: PBF
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March 18, 2024
Jahan Ara Wattoo, Vice President of the Pakistan Business Forum (PBF), highlighted the potential of Pakistan’s agriculture sector during a workshop. Currently, this sector contributes $3 billion to the economy, but Wattoo believes this could double with the right strategies.
She emphasized the need to address various issues within the agricultural sector, including controlling cartels in commodity markets. Wattoo mentioned the government’s efforts to support cotton growers by setting a price of Rs 8,500 per 40k, which led to increased production. However, she noted that market cartels caused prices to plummet once the crops entered the market, leaving farmers with significantly lower earnings.
Wattoo also mentioned similar challenges faced by maize growers, with prices dropping sharply after harvest, causing financial strain for farmers. She highlighted the prevalence of black market activities, particularly in the sale of urea, which resulted in growers paying exorbitant prices, further impacting their incomes. Addressing these issues, she believes, is crucial for the sustainable growth of Pakistan’s agriculture sector.
