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Business & Finance

Pakistan saves $129mn as import substitute, after improved agri produce

  • The Ministry of National Food Security & Research (NFSR) has informed that during the year Pakistan has produced 76,000 tons and 53,000 tons more of moong and gram respectively, as compared to last year.
24 Oct 2020

Pakistan has saved USD129 million as an import substitute by producing more pulses (moong and gram) this year as compared to last year.

The Ministry of National Food Security & Research (NFSR) has informed that during the year Pakistan has produced 76,000 tons and 53,000 tons more of moong and gram respectively, as compared to last year.

During the year, record production of rice in the history was reported which is 8.18 million tons from an area of 3.3 million hectare showing an increase of 10.39 percent.

With the increase in rice production, it is also estimated that export of rice will be increased as 780,000 tons more rice was produced as compared to the previous year.

Furthermore, the production of sugarcane also increased significantly by which is 13.96pc this year as compared to last year, and is assumed that Pakistan will go in an export scenario of sugar rather to import.

The production of maize is also satisfactory and maize will also remain in the export scenario with the fulfillment of domestic requirements on reasonable prices. It is also informed that during the year, nature will remain in favour of Agro-Economy and with the initiative of Prime Minister Package on Agriculture, the ministry will be planting the seeds of new Agro-Economy.

The government has also fixed the wheat target of 27 million tons in the next year.