Prime Minister Shehbaz Sharif on Monday predicted the agriculture sector to attract $30-50 billion in investments over the next 3 to 4 years.
He said this while launching the Green Pakistan Initiative at the National Seminar on Food Security and Agriculture in Islamabad.
The premier emphasized the importance of agriculture and efforts being made by the government to realize its full potential through the recently established Special Investment Facilitation Council (SIFC).
The prime minister was of the view that state-owned businesses were wasting Rs. 600 billion of Pakistan’s finances. Giving examples to support his claim, he recalled how Pakistan used to produce more cotton than neighboring countries but now lags behind in cotton, wheat, and other agricultural items.
PM Shehbaz stated that Gulf countries were willing to invest in agriculture and bring sophisticated machinery to enhance agricultural production in the country.
He claimed that Pakistan produces excellent Basmati rice, which would improve substantially when the country’s agri-based economy is revitalized and investments start coming in.
In broader terms, he said Pakistan needed political stability to attract investments with many investors shying away due to the prevalent situation at home.
He remarked that Pakistan may attract $40-50 billion in investment over the next few years and could export food to Gulf countries that are currently importing $40 billion in food items. The premier reiterated that Pakistan needed to compete with the rest of the world and expressed hope that the economy will be revived in the next two years.
Meanwhile, Chief of Army Staff (COAS) Asim Munir pledged the military’s full support for economic progress. He opined that “Pakistan has every capability to reach the top” and “no power in the world can impede its progress”.
Besides the premier and COAS, the seminar was attended by federal ministers, chief ministers of Punjab and Sindh, provincial chief secretaries, agricultural experts, and farmers from all the provinces. Foreign dignitaries and potential investors and experts from United Kingdom, Italy, Spain, China, Bahrain, Qatar, Saudi Arabia, Turkiye, and other countries also attended the seminar.
Following the launch of the Land Information Management System – Centre of Excellence (LIMS – COE), the Green Pakistan Initiative aims to improve Pakistan’s food security, increase exports, and reduce agricultural imports, thus supporting the national economy.
