ISLAMABAD: Pakistan has established a Land Information and Management System, Center of Excellence ((LIMS-CoE) to enhance modern agro-farming by utilizing over 9 million hectares of uncultivated state land, a senior official said on Thursday, adding that Saudi Arabia provided an initial $500 million investment to set up the facility.
Pakistan, an agriculture-based economy contributing 23 percent to the GDP and employing 37.4 percent of the labor force, faces recurrent economic hardships. Currently, the productivity remains below par, with a decreasing cultivation area, a population-production gap, and agricultural imports amounting to $10 billion.
According to the World Food Program, around 36.9 percent of Pakistanis are food insecure, with 18.3 percent experiencing severe food crises. The country faces a shortfall of 4 million metric tons in wheat production against a total demand of 30.8 million metric tons, while cotton production has fallen by 40 percent to around 5 million bales in the last decade.
“As far as the high efficiency irrigation system is concerned, Saudi Arabia has already given us [Pakistan] $500 million,” Maj. Gen. Shahid Nazeer, who heads the LIMS-CoE, told reporters at a briefing on Thursday.
“Aimed at enhancing modern agro-farming utilizing over 9 million hectares of uncultivated waste state land, LISM-CoE has been established under the Director General Strategic Projects of Pakistan Army.”
The state-of-the-art system will revolutionize means to steer agricultural development through real-time information about land, crops, weather, water resource and pest-handling under one roof, according to the official.
The center will work in collaboration with Saudi Arabia, the United Arab Emirates, Qatar, Bahrain and China on various agri projects to enhance Pakistan’s exports.
“In the next 3-4 days, a very high-powered Saudi delegation is coming to Pakistan to explore this kind of investment in four major sectors including agriculture, mines and minerals, information technology (IT) and defense production,” he said, adding this would be done under the umbrella of the Special Investment Facilitation Council (SIFC) that was recently established to revive the Pakistani economy.
Nazeer said the LIMS-CoE was aimed at ensuring food security and optimizing agricultural production in Pakistan through innovative technologies and precise, sustainable agricultural practices based on agro-ecological potential of the land, while ensuring the well-being of rural communities and environment preservation.
“The main objectives of the center included consolidation and reclamation of uncultivated waste land, optimal decision; what and where to grow, development of a master plan for modern farming, implementation of state-of-the-art agriculture management practices, practicing agro-intelligence for digital and precision agriculture, better utilization of technology to enhance yield and effective decision support system,” he explained.
The LIMS-CoE recently initiated modern agri-farming projects in Punjab, according to the official. Efforts were being made to use certified hybrid seeds with concurrent development involving joint ventures with multi-national companies, which could pay rich dividends. In agriculture and gardening, a hybrid seed is produced by deliberately cross-pollinating plants that are genetically diverse.
“Hybrid seed gives 30-50 percent more yield, world is using 80 percent hybrid seed, while Pakistan currently uses only 8 percent of hybrid seed,” he added.
Pakistan sets up center to boost agricultural growth with $500 million Saudi assistance
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Pakistan sets up center to boost agricultural growth with $500 million Saudi assistance
- The center will work in collaboration with Saudi Arabia, the UAE, Qatar, Bahrain and China on various projects
- It aims to enhance modern agro-farming in Pakistan by utilizing over 9 million hectares of uncultivated state land
Pakistan invites Cambodian businesses to invest in agriculture, tourism, textile sectors
- Commerce Minister Jam Kamal attends inaugural Pakistan-Cambodia Joint Trade Committee in Phnom Penh
- Pakistan and Cambodia’s bilateral trade of goods and services valued at $45.5 million, says commerce ministry
ISLAMABAD: Pakistan’s Commerce Minister Jam Kamal Khan on Tuesday invited Cambodian businesses to explore investment opportunities in the country’s agriculture, textiles, pharmaceuticals and tourism sectors, his ministry said, as Islamabad eyes foreign investment to ward off a prolonged economic crisis.
The development took place as both sides took part in the inaugural session of the Pakistan-Cambodia Joint Trade Committee (JTC) in Phnom Penh.
Khan arrived in Cambodia on Jan. 19 for a three-day official visit to the country to engage in bilateral trade talks amid Islamabad’s push to seek closer trade ties as it targets sustainable economic growth.
“Pakistan’s Minister for Commerce highlighted Pakistan’s strategic location, growing economy and investment-friendly policies, inviting Cambodian businesses to explore opportunities in agriculture, textiles, pharmaceuticals and tourism,” Pakistan’s Commerce Ministry said.
The minister stressed Pakistan’s efforts to improve ease of doing business and its potential as a gateway to key markets in South Asia, Central Asia and the Middle East.
The ministry further said Khan and Cambodian Commerce Minister Cham Nimul discussed mutual interests such as trade, health, banking, agriculture, aviation and customs.
She appreciated the first JTC meeting between the two sides and expressed interest in visiting Pakistan for the second JTC meeting after Khan extended her a formal invitation.
Nimul called for exploring joint ventures to leverage regional opportunities, highlighting Cambodia’s market access within the Association of Southeast Asian Nations (ASEAN) region, Pakistan’s commerce ministry said.
“Both countries also expressed interest in MoUs for aviation, banking, and customs cooperation,” the statement said.
“With bilateral trade currently valued at $45.5 million, both sides acknowledged significant untapped potential and committed to building stronger ties.”
The ministry said both sides will appoint focal persons to expedite negotiations for signing MoUs aimed at enhancing cooperation.
Additionally, Pakistan and Cambodia also agreed to share trade-related information, organize trade delegations and facilitate their respective business communities.
Pakistan invites global stakeholders to invest in priority sectors during WEF summit
- Pakistan’s finance minister is in Davos to attend annual WEF summit from Jan. 20-24
- Invites global investors to invest in agriculture, IT, mining, minerals and energy sectors
ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb on Tuesday invited global investors and stakeholders to invest in Pakistan’s priority sectors during the ongoing World Economic Forum (WEF) summit in Davos.
Aurangzeb is in the Swiss city to attend the WEF’s annual summit from Jan. 20-24 where the world’s top business and political leaders are meeting to address key global and regional challenges.
Pakistan, which has struggled with a prolonged economic crisis for the past two years, is struggling to bring about an economic revival. Prime Minister Shehbaz Sharif’s coalition government has vowed to do that by privatizing state-owned enterprises, reducing interest rates, slashing inflation and increasing exports to achieve a 6 percent growth rate in the coming years.
“Global stakeholders are invited to support Pakistan’s journey by investing in priority sectors such as agriculture, IT, renewable energy, mining and minerals, textiles and apparels, pharmaceuticals, while capitalizing on Special Economic Zones (SEZs),” Aurangzeb wrote in an article for the WEF.
The minister said Pakistan is addressing structural inefficiencies in revenue collection, energy and SOEs.
“Rightsizing the federal government, reforming SOEs, and fostering export-led growth will strengthen internal revenue streams and reduce reliance on international funding programs,” he added.
He said Pakistan was on a path to economic recovery, noting that inflation had dropped to 4.1 percent, and foreign exchange reserves now provide over two months of import coverage.
The Pakistani finance minister said the current account had recorded a surplus for three consecutive months while the country’s goods exports have risen by 7.1 percent,
“Pakistan’s global default risk has dropped by 93 percent, signaling renewed faith in the country’s fiscal stability,” he said.
“Local and foreign investors, including global giants like Aramco, BYD and Samsung, are contributing to this economic revival, reflecting Pakistan’s potential as a lucrative investment hub.”
The minister said the cornerstone of Pakistan’s economic transformation is visionary leadership and political will.
“With a remarkable workforce, abundant natural resources, and immense production potential, Pakistan is poised to soar to new heights – contributing to regional stability and global economic progress,” he said.
Aurangzeb’s activities at the forum would include taking part in panel discussions on the rising global debt burden on developing economies.
He will also take part as a panelist in a discussion on the revolutionary impact of new technologies, especially Artificial Intelligence and automation, in promoting trade and investment, the finance ministry said this week.
It said the minister will also give interviews to selected international media representatives during the summit.
Lawmakers in Pakistan’s Punjab impose total ban on kite flying over safety concerns
- Measure comes days ahead of decades-old Basant festival which features kite flying
- Those breaching the law could face up to 3-5 years in prison, pay heavy fines of $7,200
LAHORE, Pakistan: Lawmakers in Pakistan’s most populous Punjab province on Tuesday passed a law permanently banning kite flying.
The measure, which includes enhanced prison terms and heavy fines on kite fliers and kite manufacturers, comes ahead of the decades-old festival of Basant.
A ban on kite flying was initially imposed in 2005 in Lahore, the capital of the province, when at least 11 bystanders were fatally cut by wire or string made from metal or coated with glass during competitions.
The ban was extended beyond Lahore to other cities and under the latest legislation it will come into effect across the province ahead of the Basant festival, whose centerpiece is kite flying to welcome spring.
Mujtaba Shuja-ur-Rehman, a lawmaker from the ruling Pakistan Muslim League party, moved the bill in the Punjab Assembly on Tuesday, which was passed with a majority vote. Those breaching the law could face a prison sentence of between three to five years and a fine of up to 2 million rupees ($7,200).
Manufacturers of kites and strings could also face custodial sentences of up to seven years and a fine of five million rupees ($18,000), Rehman said. He said the new law was needed to save the lives of innocent people.
The centuries-old Basant festival traditionally culminates with thousands of kites soaring into the sky. Basant means “yellow” in the Hindi language, a reference to the fields of blooming yellow flowers as spring approaches.
Pakistan to start selection process of Hajj support staff from Jan. 25— religion ministry
- Pakistan’s religion ministry to select approximately 950 Hajj assistants and administrators
- Over 170,200 pilgrims from Pakistan are expected to perform annual pilgrimage this year
ISLAMABAD: Pakistan will kick off the selection process of approximately 950 Hajj assistants or “moavineen” and administrators, also known as “nazims,” through the National Testing Service (NTS) on Jan. 25, a religion ministry spokesperson said on Tuesday.
Pakistan selects hundreds of doctors and assistants each year to facilitate local pilgrims in Saudi Arabia during Hajj. These assistants provide Pakistani pilgrims with guidance regarding the pilgrimage, the holy sites in Makkah and Madinah, as well as logistical support and medical aid if necessary.
The new Hajj Policy, passed in November last year, introduced the position of administrator to ensure improved services for those undertaking the annual Islamic pilgrimage. According to the policy, the government will appoint one nazim for every 100 Pakistani pilgrims.
“We will require approximately 800 Hajj support staff (moavineen) and around 150 supervisors (nazmeen), who are being included for the first time under the Hajj Policy 2025,” Muhammad Umer Butt, a spokesperson of the Ministry of Religious Affairs told Arab News.
“To ensure merit-based selection and transparency, the government will once again select all staff through the National Testing Service (NTS) tests, which will commence on Jan. 25 and will subsequently be conducted in different parts of the country,” he added.
The NTS designs and administers tests and assessments to various institutions and organizations in Pakistan for admissions, scholarships, recruitment, promotions and assessments.
Butt said NTS has started issuing roll numbers to applicants who have applied for the Hajj assistants (moavineen) positions.
He added that the ministry also provided applicants syllabus for the test, which was based on the Hajj Policy 2025, key responsibilities of the staff and various aspects of Hajj operations.
Additionally, Butt said all relevant information was published on the ministry’s website.
“In the first week of February, the successful candidates will undergo interviews and medical fitness tests, as Hajj is a demanding duty,” he said.
Butt said the final list of selected candidates will be prepared in February and letters confirming the selections will be issued later.
“Afterward, the selected candidates will undergo final training,” he said.
Pakistan and Saudi Arabia signed the Hajj 2025 agreement this month, according to which 179,210 pilgrims from the South Asian country would perform the annual pilgrimage in 2025.
The quota for pilgrims is divided equally between government and private schemes.
Pakistan this week kicked off preparations for the Hajj by conducting mandatory training sessions for its nationals selected to perform this year’s pilgrimage under the government scheme.
The Ministry of Religious Affairs also launched the Pak Hajj 2025 mobile application, available for both Android and iPhone users, to assist pilgrims.
Pakistan’s central bank to hold monetary policy meeting on Jan. 27
- Interest rates, inflation will be key topics on agenda for central bank’s Monetary Policy Committee meeting
- Pakistan marked its fifth consecutive policy rate cut by 200 basis points to 13 percent in December last year
ISLAMABAD: The State Bank of Pakistan (SBP) has said it will hold its Monetary Policy Committee (MPC) meeting on Jan. 27, with discussions to focus on interest rates and inflation amid expectations that the committee will opt for a sixth consecutive policy rate cut.
Pakistan’s central bank reduced its key policy rate by 200 basis points to 13 percent on Dec.16, marking the fifth consecutive cut since June as part of efforts to revive the sluggish economy and ease inflation.
With a cumulative 900 basis points cut in 2024, the move was one of the most aggressive rate reductions among emerging market central banks during the current easing cycle.
“To make the process of monetary policy formulation predictable and transparent, the SBP announces a half-yearly schedule of MPC meetings on a rolling basis,” the central bank said in a statement on its website.
The bank divulged details of the next four MPC meetings to be held on Jan. 27, March 10, May 5 and June 16 respectively. It highlighted that the meeting later in January would be followed by a press conference by SBP Governor Jameel Ahmed.
On Jan. 14, Karachi-based topline securities conducted a poll in which 61 percent of participants expected the SBP to announce a rate cut of 100 basis points.
“Participants are expecting a rate cut due to high real rates of 950bps in January 2025, compared to the historic average of 200-300bps, despite 900bps cut in total interest rates in last five consecutive meetings since Jun 2024,” Topline Securities said.
“We also hold the view that the SBP will announce a rate cut of 100bps, taking the total cut to 1000bps,” it said. “This will be the sixth consecutive cut of this cycle.”
In December last year, the MPC assessed that its approach of gradual policy rate cuts was effectively managing inflationary and external account pressures while supporting sustainable economic growth.
The central bank had also noted that it expected inflation to average “substantially below” its earlier forecast range of 11.5 percent to 13.5 percent in 2025.
Pakistan is navigating a difficult economic recovery, supported by a $7 billion facility from the International Monetary Fund (IMF) secured in September 2024.
The central bank has stated that “considerable efforts and additional measures” will be needed to meet the country’s annual revenue target, which is a key requirement of the IMF agreement.
Finance Minister Muhammad Aurangzeb has, meanwhile, repeatedly called for long-term financial reforms and for the country to enhance exports to ensure sustainable economic growth.
