Observer Report Karachi
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has asked the government to take measures to bring down the cost of agriculture production, prioritizing agri sector in its economic planning to ensure food security through enhanced per acre yield.
Due to lower produce of three major crops the import of wheat has jumped to $909 million, sugar $126 million and cotton $913 million during Jul-Feb 2021.
The cumulative import bill of the three agriculture products in the eight months touched to the figure of almost $2 billion, lifting the ever-increasing trade deficit further, amidst alarming decline in cotton production by 34%, observed Mian Anjum Nisar.
FPCCI’s ruling party chairman said that lack of investment agriculture research, poor governance, bad planning and climate change have already resulted in shortage of wheat, sugar and cotton.
As a result, the import bill of cotton has increased substantially owing to record low production.
According to the figures, till Feb 2021 cotton arrivals in Punjab are recorded at 3.5 million, while Sindh generated just 2.1 million which is 1.5 million bales less in Punjab and 38.52 percent less in Sindh respectively as compared to the last year’s production.
The country was producing 26.7 million tons of wheat on 9.2 million hectors few years back.
Both yield and area of production declined to 24 million tons and area of production was reduced to 8.8 million hectors.
Similarly, area of cotton production shrank to 2.5 million hectors.