Pakistan. Agriculture sector to grow by 3.5pc in FY-2017-18

15.06.2017

The country's agriculture sector is targeted to grow by 3.5 per cent during Fiscal Year 2017-18.

The growth target is set on the basis of expected contributions of important crops (2 per cent), other crops (3.2 per cent), cotton ginning (6.5 per cent), livestock (3.8 per cent), fishery (1.7 per cent) and forestry (10 per cent).

According to official documents, the production targets for important crops are expected to be attained given that the quality and quantity of agriculture inputs is ensured.

This includes consistent availability of water, certified seeds, fertilizers, pesticides and agriculture credit facilities, and better water availability.

The prospects for cotton crop in 2017-18 are encouraging and the international revival in cotton prices has spurred prices in domestic market. Resultantly, area under cotton cultivation is expected to increase due to the expectations of lucrative profit margins.

The official documents said that agriculture sector achieved the target of 3.5 per cent during 2016-17 contrary to the contraction of 0.27 per cent during 2015-16.

The Prime Minister Farmer's package, government support to the sector in the last year budget, and stability in commodity market contributed to this achievement.

The growth in the agriculture sector not only supported the national and rural economy but also improved food security situation.

The momentum of development is expected to continue in 2017- 18, keeping in view the expected stability in the commodity market.


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