Fpcci Advocates for Development of Agricultural Infrastructure
Published on: March 20, 2024.
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FPCCI Committee Recommends Fauji Foundation for Infrastructure Development in Corporate Farming Areas
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Standing Committee on Agriculture has recommended that the Fauji Foundation undertake the development of roads, canal systems, and electricity infrastructure in corporate farming areas identified for investors, particularly in the Cholistan belt. This recommendation falls under the Special Investment Facilitation Council (SIFC).
Chaudhry Ahmad Jawad, the Convenor of FPCCI Agriculture Standing Committee, expressed that both the military and federal government are committed to prioritizing the agricultural sector through the SIFC. However, he noted that the infrastructure to support investors has yet to be established and must be expedited.
Under the SIFC framework, the Fauji Foundation has established a company to assist in managing corporate farming projects. Multiple local companies have already signed Memoranda of Understanding (MoUs) in this regard.
Crucial Crossroads in Agriculture Sector
Jawad emphasized that the agricultural industry stands at a crucial crossroads. Pakistan’s population is growing at a faster pace than food production, resulting in concerning food security issues. The country ranked 92 out of 116 nations in this year’s Global Hunger Index (GHI), with the hunger situation labeled as ‘serious’. Despite being among the top producers of wheat, rice, sugarcane, and milk, a report by the State Bank of Pakistan (SBP) revealed that nearly 37% of households in Pakistan are food insecure.
In the past three years, the food security situation has further deteriorated. Pakistan has experienced double-digit food price inflation since August 2019. According to the Pakistan Bureau of Statistics, food costs have increased by 10.4-19.5% in urban areas and 12.6-23.8% in rural areas compared to the previous year.
To tackle these challenges, it is crucial to invest in infrastructure development and maximize the potential of corporate farming.
Source: The Express Tribune
