Thursday, 10 May 2012

Agri sector lacks efficiency

LAHORE - Agricultural credit to farmers in Pakistan declined from $3.4 billion in 2007-08 to $3.1 billion in 2010-11. During the same period, Indian agricultural credit increased from $63.3 billion to $103.4 billion. Agricultural credit in Pakistan is 8 per cent of agri-GDP while in India, it is 31 per cent of agri-GDP.
This was stated by Asad Umar, Chairman Pakistan Business Council, while speaking to Agricultural Journalists’ Association. He said that despite having immense potential, the agriculture sector of Pakistan lacks efficiency and global competitiveness, causing dent to self sufficiency in production of various farm produces.,
In his presentation on ‘Agriculture – a mainstay of Pakistan’s economy’ Asad Umar said production of various farm products has been as low as 90 per cent if compared with global benchmark. Sugarcane yield is 40 per cent lower if compared with global benchmarks, wheat yield is 20 per cent lower, non-basmati Rice yield is 40 per cent lower, cotton yield is 20 per cent lower and milk yield per animal is 90 per cent lower, he said.
The low output also adversely affects capability of farmers to earn more, he added.

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