ISLAMABAD: /DNA/ – Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on the poor state of the country’s most important sector is resulting in the economic downturn.

Despite the world’s best canal system and fertile land, agricultural imports are increasing at an alarming rate which is a drain on the exchequer, he said.

Mian Zahid Hussain said that during the last financial year, food items worth ten billion dollars, tea worth one billion dollars, cotton worth two billion dollars and palm oil worth four billion dollars were imported, which is worth Rs3400 billion.

Talking to the business community, the veteran business leader said that Pakistan would not only become fully self-sufficient in agriculture but would also become a notable exporter of agricultural products if investments are made along with favourable policies.

The summary of all previous agricultural policies of Pakistan is that one sector was given attention and the other was neglected, paving the way for its decline.

The business leader said that almost one-third of the country’s population is related to agriculture, its share in GDP is more than 22% and 70% of exports are also linked to this sector, but it was never the focus of policymakers.

Mian Zahid Hussain said that the condition of the agricultural sector improved somewhat in the sixties, after which it began to decline and the agricultural sector has not been able to perform satisfactorily for the past years due to mafia, non-promotion of corporate farming, lack of planning and research, and lack of capital.

Lack of water, steep rise in the prices of inputs and deterioration of land conditions have also contributed to the problem.

Mian Zahid Hussain said that thirty-four years ago, an expert prepared a report for solving the problems of agriculture and ensuring its development, which till now no one bothered to take seriously and follow the recommendations contained in it.

During this time, some attention was given to new types of seeds, which increased the production of many crops, but this was nothing compared to other countries in the region.

Currently, the level of underground water in Punjab is decreasing by one to three feet per year, which is a big threat to the future of the country, but nothing is being done in this regard.

In the last eight years, the population of the country has increased tremendously, but the production of wheat has not increased, while the production of cotton is continuously falling.

Billions of dollars are being spent on imports of wheat, cotton and palm oil which is unbearable for the country’s exchequer.

KARACHI, AUG 15: /DNA/ – FPCCI’s Presidential candidate Atif Ikram Sheikh on Monday said political tensions across the country will hamper the economic recovery.

The troubling political struggle may lead to another economic decline which will be unfortunate, he said.

The destiny of the country can be changed if the politicians give up petty interests and concentrate on a one-point agenda to restore the economy, he added.

Atif Ikram Sheikh said that the economy is going through tough times and the politicians have no option but to show a responsible attitude.

In a statement issued here today, the business leader said that if the political tensions continue, loans worth billions of dollars cannot revive the economy.

Political strains will also deprive the public of the appreciation in the value of the rupee, while a responsible attitude will change the situation for good as no one can stop nuclear power from becoming an economic power.

The UBG leader said that Saudi Arabia has renewed the three billion dollars kept in Pakistan, which will give relief to the government.

He said that because of the conflict between Russia and Ukraine, oil prices had increased to one hundred and twenty dollars per barrel, which increased the financial difficulties of all oil-importing countries including Pakistan, but now the oil prices have fallen below one hundred dollars.

Due to which the fall in oil prices, prices of gas and other commodities are also decreasing but the masses are not getting its benefit.

The decline in oil prices is because of Russia’s production not being affected despite the sanctions, the use of stored oil by Western countries and the threat of a global recession.

DNA

Islamabad: After three scores and fifteen years of independence, there was a serious need to revisit our national value system, agreed a group/cohort of youth. At a roundtable discussion titled “75 years of Pakistan—Reflections” held at the Institute of Regional Studies (IRS) here on Monday.

The event featured a diverse group of undergraduate and graduate level students from Lahore and Islamabad. The discussion was organized with the aim of bringing forth the voice of youth which was Pakistan’s biggest asset. The cohort agreed that while there had been major issues such as political turmoil, economic instability, religious disharmony, interprovincial discord and absence of nationalism, Pakistan’s resilience in the face of all that it had been through since its inception was commendable. Sincerity and loyalty to our motherland regardless of the challenges confronting the country was the need of the hour, said the Ambassador Nadeem Riyaz, President IRS.

The youth representatives expressed hope and optimism for Pakistan’s bright future on the basis of what Quaid-e-Azam said, i.e., Pakistan could never be undone. Only 75 years had passed since the birth of Pakistan and 75 years in the life span of nations, were in fact formative years. The reading on the wall about Pakistan’s future read ‘hope’ and ‘everything positive’ said Ms. Ayesha Zafar, an undergraduate student from National Defense University (NDU), Islamabad. Ms Fizza Bano and Mr Malik Saad, undergraduate students from NDU pertinently mentioned the challenges that Pakistan had to endure since birth in addition to highlighting its resolve in standing tall among the comity of nations. Ms Bano stated that as a young political scientist she saw lack of ownership among Pakistani nationals as extremely concerning. She added that it was imperative for our people to own their national identity and let it prevail beyond their sub-national and ethnic identities to emerge as a united nation that was capable of addressing troubling issues at home.