Farmers harvest paddy in a field in Lahore, Pakistan on Oct. 30, 2023. Pakistan has geared up efforts to implement agricultural projects, the Ministry of Planning, Development and Special Initiatives said on Sunday. (Photo by Sajjad/Xinhua)
ISLAMABAD, Oct. 29 (Xinhua) -- Pakistan has geared up efforts to implement agricultural projects, the Ministry of Planning, Development and Special Initiatives said on Sunday.
In the current fiscal year from July 2023 to June 2024, several projects were allocated for the agriculture sector, which is on the top priority list of the Special Investment Facilitation Council (SIFC), according to a statement released by the ministry.
The statement said that Pakistan has vast potential for foreign investments in the field of agriculture as the country is a semi-industrialized economy with a well-integrated agricultural sector. The sector contributes 22.9 percent to gross domestic product, creates 37.4 percent of jobs, ensures food security and provides raw materials for industry.
While gearing up the efforts, the ministry asked relevant ministries to accelerate the implementation so that projects can be completed timely, especially at a time when the SIFC took the lead and agriculture is the top priority besides other key sectors, it added.
The SIFC was established earlier this year to attract foreign and local investments while targeting five key areas which include agriculture, defense production, mining and minerals, information technology and telecommunication, and energy, according to the statement. ■
Farmers thresh paddy in a field in Lahore, Pakistan on Oct. 30, 2023. Pakistan has geared up efforts to implement agricultural projects, the Ministry of Planning, Development and Special Initiatives said on Sunday. (Photo by Jamil Ahmed/Xinhua)
Farmers harvest paddy in a field in Lahore, Pakistan on Oct. 30, 2023. Pakistan has geared up efforts to implement agricultural projects, the Ministry of Planning, Development and Special Initiatives said on Sunday. (Photo by Sajjad/Xinhua)