Federal Minister for National Food Security Rana Tanveer Hussain said agriculture sector is key to the development of the economy.
He made these remarks while addressing a presser where he said the Pak–China Agricultural Investment Conference was held successfully.
The minister stated that agriculture contributes 26 percent to Pakistan’s GDP, with livestock accounting for 60 percent of the sector. The prime minister is giving special attention to agriculture due to its central role in economic stability.
Rana Tanveer Hussain noted that despite having significant potential, the sector has not achieved growth in line with its capacity. He pointed out that remittances have reached nearly $40 billion, but sustainable economic growth depends on increasing exports. In this regard, agriculture will play a decisive role, with China being a major focus for future development and investment.
The minister said the conference was one of the most successful events due to the collective efforts of all relevant ministries. A total of 85 Chinese companies participated, and memorandums of understanding were signed in key areas including agricultural technology, cold chain development, food processing and agrochemicals. Overall, 75 MoUs worth more than $4 billion were finalized during the conference.
He further stated that a significant portion of investment under CPEC Phase II will be directed toward agricultural infrastructure. The government, he claimed, is achieving progress on economic, diplomatic, political and security fronts on a daily basis.
Highlighting reforms in the agriculture sector, the minister said a Seed Authority has been established to ensure quality seed availability, fertilizer supply chains have been improved, and farmers’ access to credit has been expanded. He added that loan recovery in the agriculture sector stands at 69 percent.
Rana Tanveer Hussain reiterated the government’s commitment to increasing exports over the next three years while ensuring food security. He assured that there is no wheat shortage in the country and supplies are sufficient. However, he noted that Pakistan imports 89 percent of its palm oil, and rising global prices have significantly increased the import bill.
Currently, agricultural exports stand at $8 billion, the minister said, adding that the government has set a target to double this figure within the next three years.
