Pakistan Business Forum has demanded of the Prime Minister Muhammad Shehbaz Sharif to reduce the agriculture tube wells tariff similar to the recent reduction announced for the industrial sector. In the letter dispatched to PM, President PBF Khawaja Mehboob ur Rehman said, “I commend your recent decision to reduce the electricity tariff for the industrial sector. This move is a significant step towards boosting the country's industrial growth and competitiveness.” He further stated that the agriculture sector was the key performer in the fiscal year 2023-24, contributing significantly to the country's GDP. However, the sector still faces significant challenges, including high energy costs. We believe that reducing the agriculture tube well tariff would greatly benefit the sector and the economy as a whole, he added. Kh Mehboob ur Rehman said, “We request the PM to consider reducing the agriculture tube well tariff from the current rate of Rs 10 per unit to a more affordable rate, similar to the recent reduction announced for the industrial sector.

This would help farmers and the agriculture industry to Increase productivity and efficiency, Reduce costs and improve profitability, Enhance food security and self-sufficiency and Contribute more significantly to the country's economic growth.” He said that the PBF believes that this decision would be a significant step towards supporting the agriculture sector and ensuring the country's food security. We look forward to your positive consideration of our request, he maintained. The PBF President further said that agriculture sector has the potential to re innovate our economy. He said that the roadmap for Pakistan’s agricultural renaissance was etched in the lessons learned from global leaders and the commitment to fostering an environment conducive to innovation. By joining hands and harnessing the collective strength of all stakeholders, Pakistan can unlock the latent potential of its agricultural sector and cultivate a future of prosperity and growth.

Kh Mehboob said, “We currently import edible oils and other food products worth $10 billion. The greater focus on agriculture should not only bring us self-sufficiency but also position us to significantly elevate our agricultural exports.” He said that if the Netherlands, which was 19 times smaller in size compared to Pakistan, can export over $100 billion worth of agricultural products, there was no reason why Pakistan, with its much better climate, should not be able to export at least $30 billion of agricultural products. According to the PBF estimates, the widespread adoption of new technologies in developing agrarian economies can potentially increase farm incomes by up to 200pc effectively translating into poverty reduction from the ground-up as well as improved livelihoods for millions of Pakistani farmers and households, he concluded.

Credit: Independent News Pakistan