Karachi: Speakers stressed adopting technological solutions in the agriculture sector to increase the yields of various crops and utilization of untapped fertilized lands to enhance food production and exports of the country’s manifold.
Speaking as the chief guest at a seminar AgriTech: Feeding the Future, CEO Trade Development Authority of Pakistan (TDAP) Zubair Motiwala on Wednesday said Pakistan has immense potential to develop its agriculture sector with the availability of the wealth of natural resources and benefit of multiple seasons.
He mentioned that agriculture and food exports increased from $5 to $8 billion in the last year when the country desperately needed foreign exchange.
Pakistan’s agricultural land is barely utilized by 50 percent; if the rest of the 50% of the land is used optimally, our country could meet the demand of Asia. Besides, the GCC countries and China are attractive markets. However, he remarked that local companies should work on research and development to meet their demands.
He said that we have taken various initiatives to provide technology and information to the grassroots level of the agriculture sector and train farmers on modern farming practices, translating into a consistent increase in yields and crop production.
CEO TDAP viewed that agricultural production in Pakistan could fetch seven times more value than the present value through value addition.
Unfortunately, the challenge of access to funds should be overcome to empower farmers at a grassroots level. The role of third man should be minimized, supply chain and cold chain should be established.
He remarked that the agriculture sector is a savior to Pakistan, but our country needs to scale up the agriculture sector spontaneously, horizontally, and vertically.
Al Barka Bank Pakistan Limited CEO Mohammad Atif Hanif said the banking institutions should provide resources to farmers and the agriculture sector, including funds and technological solutions to enhance crop yields sustainably.
“With every 10% growth, we can feed one country at least. That is Pakistan’s export potential,” he said.
There are 100 million adults in Pakistan, but they do not have bank accounts, and 75% of these adults from rural areas are involved in the agriculture sector. Out of this huge unbanked market, only 2.5 million are borrowing customers in the whole agriculture sector of Pakistan, he mentioned.
He added that banking, agriculture, and corporate sectors should collaborate to explore opportunities in the Halal food industry of $1 trillion, in which the country’s share stood merely at $500 million.
Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Senior Vice President Saquib Fayyaz Magoon Pakistan witnessed significant growth in agriculture tech, which ensured crop growth of 11.03% in the last financial year.
ITCN Asia also organized various seminars and roundtables held on the second day, including Future Leaders Awards, Ideathon, Roundtable Conferences on the role of STZA in accelerating the growth of the knowledge economy in Pakistan, and roundtable local creative economy and global market. Ecommerce Gateway Pakistan Pvt Ltd has organized the conference and exhibition.
