Approximately 75 pc of Pakistan's export is based on agriculture. This was said by Minister for National Food Security and Research, Syed Fakhar Imam on Wednesday while addressing virtual meeting on 3rd Regional session of FAO on COVID 19 and food security. He mentioned that Pakistan has faced numerous challenges like earthquake, floods and drought. And now COVID 19 has emerged. In Pakistan due to COVID 19 mortality rate is 2%.Syed Fakhar Imam reiterated that COVID 19 has intensified food security.
Apart from this country is also facing locust’s infestation. He was of the point of view that food and nutritional insecurity is resulting in negative impact on livelihood and economic activity. Syed Fakhar Imam added that 20 to 25% of Pakistan's population is living under poverty line. And duecto COVID 19 economic activity is disturbed. He mentioned about various fiscal package governments has given to public with the backdrop of COVID 19.
He said government has given Rs 1.24 trillion in relief package. He said government has supported 12.30 million families amid these unprecedented times. Syed Fakhar Imam mentioned about a multi-billion agriculture package has been approved for farmers with subsidy on fertilizers, cotton seed and white fly pesticides; reduced bank mark-up on agricultural loans, in addition to sales tax subsidy on locally manufactured tractors. Under the agriculture package, subsidy to the tune of approximately Rs. 37 billion is offered to farmers on the purchase of fertilizers.
Similarly, under the agriculture package, diminution in mark-up of agriculture loans to farmers at the total cost of Rs. 8.8 billion and subsidy on cotton seed at a cost of Rs. 2.3 billion and white fly pesticides at Rs. 6 billion were approved. The package would also include Rs. 2.5 billion subsidy on sales tax on the locally-manufactured tractors for a period of one year. All banks, in the scheme will enhance the outreach of farmers with focus on subsistence farmers with a land holding of 12.5 acres.
He said last fiscal year the country’s agricultural growth was 22.7%.He said agriculture is emerging as mainstream of country's economy.
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