Tag: agricultural revolution

  • Army gets more land for ‘agriculture’

    Army gets more land for ‘agriculture’

    The Pakistan Army is set to start agriculture farming on 41,000 acres of land in South Waziristan’s Zarmalam area.

    Peshawar Corps Commander Lieutenant General Sardar Hasan Azhar Hayat has said that the army was determined to increase agricultural farming in Khyber Pakhtunkhwa, as per Geo News.

    Lt Gen Hayat said the army has prepared a farming plan on 41,000 acres of land that had been barren for years.

    The officer was of the view that there is a vast opportunity for investment in minerals, hydropower, agriculture, and tourism in KP that can help boost the province’s resources.

    The three-star officer said the army has worked together with the civil government to bring investment in minerals, agriculture, hydropower, and tourism to the province, which is yielding positive results.

    The Pakistan Army’s decision has sparked mixed reactions among locals and experts, with some expressing concerns over the potential implications for the region.

    The move, which involves the cultivation of 41,000 acres of land, has raised questions about the long-term impact on the area’s ecosystem and implications for local communities.

    Critics argue that the project’s scale could lead to significant land and water resource depletion, impacting the livelihoods of communities dependent on the land.

    Additionally, there have been concerns about the army’s increasing involvement in civilian sectors, with some experts cautioning against potential overreach and the need to ensure civilian oversight in such initiatives.

    On October 1st this year, The Pakistan Army launched the first agriculture project under the Special Investment Facilitation Council (SIFC) to make barren lands cultivable in South Waziristan.

    The pilot project launched in the Zarmalam district of South Waziristan oversaw 1,000 acres of barren land made suitable for cultivation.

    The Pakistan Army’s decision has sparked mixed reactions among locals and experts, with some expressing concerns over the potential implications for the region.

    The move, which involves the cultivation of 41,000 acres of land, has raised questions about the long-term impact on the area’s ecosystem and the implications for local communities.

    Critics argue that the project’s scale could lead to significant land and water resource depletion, impacting the livelihoods of communities dependent on the land.

    Additionally, there have been concerns about the army’s increasing involvement in civilian sectors, with some experts cautioning against potential overreach and the need to ensure civilian oversight in such initiatives.

  • ‘Second green revolution’ promised by PM Shehbaz through Green Pakistan Initiative 

    ‘Second green revolution’ promised by PM Shehbaz through Green Pakistan Initiative 

    After a series of moves aimed to protect Pakistan’s failing economy, including securing a crucial IMF deal, Prime Minister Shehbaz Sharif has now set his sights on supporting what he calls the backbone of Pakistan’s economy: the agricultural sector.

    Through his Green Pakistan Initiative, inaugurated on Monday, July 10, PM Shehbaz says 4 million jobs will be created in the agricultural sector. He also said the Green Pakistan Initiative would likely attract $50 billion in investments in the next five years.

    According to PM Shehbaz, the newly inaugurated initiative is bound to propel Pakistan into its ‘second green revolution’. In fact, the initiative follows similar schemes as those present in Ayub Khan’s regime, such as incentivising farmers by providing them with more profits for their production and providing standard seeds and fertilizers to farmers, along with equipping them with the latest technology.

    It is true that Ayub Khan’s Green Revolution changed the economic fate of the adolescent country. And a revolution of sorts is very much needed: according to PM Shehbaz, state-owned agricultural enterprises are losing PKR 600 billion annually. He noted that Pakistan imports $4.5 billion worth of palm oil, a burden on the national economy.

    At the inauguration ceremony, PM Shehbaz said that gulf countries were ready to invest in the agriculture sector and export modern machinery to Pakistan, in order to boost the production of crops in the country.

    According to The News, PM Shehbaz stated, “It is [a] demand of our national security that the country’s food security and economic security should be strengthened.”

    The inaugural seminar was attended by federal ministers, provincial chief ministers of Punjab and Sindh, chief secretaries of provincial governments, agricultural experts, and farmers from all the provinces.

    Chief of Army Staff General Asim Munir also attended the seminar as the guest of honour. He pledged the Pakistan Army’s full support for all the initiatives that fall under the Special Investment Facili­tation Council, one of which is the Green Pakistan Initiative.

    According to The News, agriculture experts and farmers highly appreciated the landmark initiative, praising the focus on promoting modern technology, the collaboration of public and private sectors, as well as trickling down dividends to local farmers in order to alleviate poverty.

  • Pakistan will not default, reforms underway for economic recovery: Finance Minister

    Pakistan will not default, reforms underway for economic recovery: Finance Minister

    Pakistan’s Finance Minister Ishaq Dar has assured the nation that the government is committed to implementing long-term reforms aimed at improving the country’s economic situation.

    Speaking to the Karachi Chamber of Commerce and Industry, Dar emphasised the need for collective efforts to overcome the current economic challenges. He outlined key areas of focus, including the agricultural sector, the establishment of a sovereign wealth fund, and the development of the IT industry.

    Additionally, he addressed concerns about the delay in the International Monetary Fund (IMF) program, expressing confidence in Pakistan’s assets and downplaying the possibility of default.

    Reforms for Long-Term Improvement: In his address to the Karachi Chamber of Commerce and Industry, Finance Minister Ishaq Dar reiterated the government’s commitment to implementing reforms that would pave the way for long-term improvement.

    He acknowledged the importance of the agricultural sector, emphasising the need for an agricultural revolution to enhance productivity and ensure food security.

    The establishment of a sovereign wealth fund was also highlighted as a means to generate additional revenue and support sustainable economic growth. Furthermore, Dar expressed determination to prioritise the neglected IT sector and capitalise on its potential for job creation and technological advancements.

    No technical reason behind delayed IMF program

     Addressing concerns regarding the delay in the IMF program, Dar reassured the delegation that there was no technical reason behind it. He emphasised that Pakistan, as a sovereign country, possesses valuable assets worth trillions of dollars, thereby implying that default is not a plausible scenario. While external liabilities stand at approximately $100 billion, the finance minister pointed out that Pakistan’s gas infrastructure alone is valued at around 40 to 45 billion dollars, underscoring the country’s significant assets.

    Recognising the vital role of the business community in Pakistan’s economic development, Finance Minister Ishaq Dar called upon them to present reasonable demands for the upcoming budget. He assured the delegation that the government would cooperate with the business community to address their concerns and promote a conducive environment for trade and investment. By fostering a constructive partnership, the government aims to create a business-friendly climate that supports entrepreneurship and economic growth.

    IMF loan requirement and government’s approach

    Amidst recent developments, it was revealed that the IMF rejected Pakistan’s request to lower the requirement of arranging $6 billion in new loans. Minister of State for Finance Dr Aisha Pasha highlighted that returning to the IMF was Pakistan’s only option, stressing the urgency of fulfilling the financing requirement. Pakistan had sought a reduction in the external financing requirement based on new current account deficit data. However, the IMF insisted on the full $6 billion to demonstrate Pakistan’s commitment to implementing necessary economic reforms.

    Finance Minister Ishaq Dar’s reassurances regarding the government’s commitment to long-term reforms and the denial of Pakistan’s possibility of default provide a glimmer of hope amid economic challenges.

    The focus on sectors such as agriculture and IT, the establishment of a sovereign wealth fund, and the emphasis on cooperation with the business community signal the government’s determination to foster economic growth and stability.

    While the IMF’s rejection of Pakistan’s request poses a hurdle, the government remains steadfast in its efforts to revive the deal and secure the necessary financing to support the country’s economic recovery.