LAHORE: The Punjab’s Board of Revenue (BoR) has forwarded a detailed enterprise agricultural policy to the provincial cabinet for approval, reliable sources said.
Once the cabinet puts its seal on it, the BoR would lease large tracts of land to interested parties, they added.
According to sources, cultivable land would be returned to modern cultivation under the China-Pakistan Economic Corridor (CPEC) project.
It should be noted that the State Bank’s annual report for 2018 has already suggested that the CPEC Long Term Plan (LTP) places a strong emphasis on agriculture, with broad engagement across the country. sector. Increasing yields in the crop sector, reducing losses due to harvesting and transport, and engaging with livestock and dairy products are some of the directions considered under the plan. The end goal appears to be to boost Pakistan’s food exports to China.
He further stressed that agriculture is a high priority for Chinese overseas investment in all countries under the Belt and Road Initiative.
The benefits for Pakistan are well presented in the report. They include improving yields through higher quality seeds, mechanization of farms as well as the introduction of drip irrigation technology on a larger scale, increased use of formal credit systems for loans. agriculture and better documentation of the rural economy and in particular of its land registers.
When he contacted senior member Babar Hayat Tarar for his comments, he confirmed the development, adding that the council would release the schedule of state land to be allocated for this purpose once the policy is formally approved.
Copyright Business Recorder, 2021