Arooj Zulfiqar

Corporate agriculture offers a promising solution to transforming Pakistan's economy by modernising key farming practices. “In recent years, Pakistan has faced numerous challenges, including the devastating effects of climate change.Agriculture,acrucial contributor to the GDP, hasborne the brunt. Amidst these challenges, corporate agriculture canemerge as a viable solution to Pakistan’s low GDP growth,”saidan expert from the University of Agriculture, Faisalabad, who didn’t want to be named. “Corporate agriculture characterised by large-scale, professionally managed farms has the potential to revolutionise Pakistan's agricultural landscape, creating a more robust and sustainable economic future for the country,” he noted. The agriculture expert said that the flash floods of August 2022 had badly harmed the farming community, and threatened the country's food supply chain. “Keeping in view these challenges, it is vital to launch such programmes, which help resolve the issues of farmers.”

“Therefore, the public and private sectors must contribute appropriately to enhance the agriculture’s input,” he stressed. A primary advantage of corporate agriculture lies in its ability to enhance productivity and efficiency, he added. “Traditional small-scale farming practices prevalent in Pakistan often suffer from low productivity due to inadequate resources, outdated methods, and limited access to technology. By transitioning to a corporate model, the agricultural sector can benefit from economies of scale, modern machinery and cutting-edge agricultural techniques,” he said. “Corporate entities can afford to invest in advanced technologies, such as precision farming, drone surveillance and automated irrigation systems, which significantly boost crop yields and reduce resource wastage,” he said.

“The utilisation of modern techniques also ensures a consistent supply of high-quality produce, which not only meets domestic demand but also opens up opportunities for export, bolstering the national economy,” the agriculture expert explained. He further added, “The shift towards corporate agriculture can potentially address Pakistan's pressing issue of unemployment. Large-scale farming operations require a skilled and diverse workforce, thus providing ample job opportunities for rural communities.” “Corporate entities also invest in the training and development of the workforce,” he continued, saying that the infusion of corporate expertise and modern practices into the agriculture sector could significantly enhance the skills and knowledge of farmers and labourers.

“This upskilling not only makes them more employable within the agricultural domain but also empowers them with transferrable skills that can be utilised in other sectors, fostering overall socioeconomic development.” The agriculture expert maintained that corporate agriculture had the potential to attract significant foreign direct investment into Pakistan. “As the world's population continues to grow, food security remains a critical global concern. Pakistan, with its vast agricultural potential, becomes an attractive destination for international investors seeking to secure their food supply chains.” “Foreign investors are more likely to be drawn to large-scale corporate farming ventures that offer stability, efficiency and assure returns on investment. This inflow of FDI can strengthen Pakistan's foreign exchange reserves, stabilise its currency and enhance its overall economic standing in the global market,” he said.

Credit: INP-WealthPk