OICCI Agricultural Reforms
Agriculture is one of the most important sectors for Pakistan’s economy. It provides employment to almost half of Pakistan’s labor force and remains the primary income driver for the rural economy. Apart from its importance to the rural economy, agriculture remains one of Pakistan’s leading exports bringing in vital foreign exchange. OICCI members, stepped up to work on improving the productivity of this vital sector. Based on their importance and potential economic viability, OICCI submitted a White Paper on Increasing Agricultural Productivity on 5 major crops, including Cotton, Dairy, Maize, Tobacco, and Wheat.
Some key overlying recommendations are highlighted below.
- Public-private partnerships for seed development and research: Low quality seeds with little to no genetic modification render crops susceptible to pest attacks and rising temperatures. Public-private partnerships would help bring in modern technology along all steps of the sowing cycle for which protocol and policy should be developed.
- Implementation of modern supply chains: Authorized central warehousing facilities, cold supply chain (especially for dairy products), and globally updated testing and lab facilities are major requirements, which can be achieved through collaborations with the private sector.
- Modify collateral requirements to accommodate the agriculture sector: Collateral requirements on farmers should be eased by SBP and move towards alternate collaterals such as livestock and crops. Alternatively, register and finance are this to channelize soft loans for farmers