Implementing fiscal and structural reforms critical for sustainable growth
Chairman Pakistan Hitech Hybrid Rice Association (PHHSA), Shahzad Ali Malik, emphasized the importance of implementing sustained macro-fiscal and structural reforms in order to achieve sustainable economic growth and development. He highlighted the need for Pakistan to diversify its agricultural exports by improving competitiveness, productivity, and exploring new markets.
In a meeting with a delegation of progressive farmers, Malik pointed out that Pakistan has vast potential to increase its exports of rice, sugarcane, and cotton products. He suggested that Pakistan could tap into lucrative markets such as China, Turkey, Qatar, Kenya, Afghanistan, UAE, and Saudi Arabia by offering different varieties of rice that meet their quality specifications and ensuring timely delivery.
Similarly, Malik stated that Pakistan has the opportunity to boost its sugar exports by improving milling efficiency, reducing production costs, and exploring new markets in Africa and Asia. He also emphasized the importance of upgrading the textile industry to enhance cotton product exports. Enhancing compliance with environmental and social standards and taking advantage of preferential trade agreements with various countries can further fuel export growth in this sector.
Malik highlighted the challenges faced by the local agriculture sector, including low mechanization, outdated technology, and weak extension services. He noted that only about half of the farmers use tractors, while less than 10% utilize other farm machinery. Limited access to credit, information, and markets also hampers farmers’ ability to adopt new technologies and practices that can improve productivity and income.
The chairman also drew attention to the significant economic losses resulting from poor water management, with Pakistan losing approximately $12 billion annually. He emphasized the urgent need to address water stress, as Pakistan is one of the most water-stressed countries in the world, with per capita water availability of less than 1,000 cubic meters.
In conclusion, Pakistan has immense potential to enhance its agricultural exports by implementing reforms, diversifying markets, improving quality standards, and complying with international trade regulations. By addressing challenges in the agriculture sector, such as mechanization and access to credit and information, Pakistan can unlock its full agricultural export potential and contribute to sustainable economic growth and development.
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