The government has decided to permit commercial cultivation of hemp from January 2025, aiming to tap into the global market worth billions of dollars. This was announced by PCSIR officials during a meeting of the Senate Standing Committee on Science and Technology, chaired by Senator Kamal Ali Agha.
Officials revealed that Pakistan can earn $5-7 billion in foreign exchange by exporting hemp products. Currently, the country has a hemp cultivation worth $5 billion, but it is not being utilized properly. The establishment of the Cannabis Control and Regulatory Authority (CCRA) has been approved to regulate the industry.
The global market for hemp is vast, with over 50 countries using it in the pharmaceutical industry. Pakistan has already started cultivating hemp on a two-acre area at the Barani Agricultural University. Research and development projects have produced various products from hemp.
The committee was informed that Pakistan’s hemp products are being exported to other countries, including the United States, which offers tax exemptions on hemp imports.
The CCRA will issue licenses for commercial cultivation, with the Defense Secretary as its chairman. Members will include secretaries from relevant ministries, chief secretaries of provinces, and representatives from IB, ANF, and DRAP. The authority will ensure regulated cultivation and processing of hemp, aiming to capitalize on the lucrative global market.
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These people quickly jump to the term ‘,billions’, perhaps that is the only term they know to utter in their statements. Please talk of millions first, if you can. The potential remains potential till it is realized. Had billions been coming that easily, we would not been in such a bad economic condition.