Agricultural machinery, input worth $73.498 million imported in July-April

ISLAMABAD: Agricultural machinery and inputs worth $73.498 million were imported during 10 months of the current financial year as compared to imports of $79.728 million in the corresponding period of the previous year.

During the period from July-April, 2020-21, import of agricultural machinery and imports decreased by 7.8 percent as compared to the same period last year.

Meanwhile, during the period under review, agricultural chemicals including fertilizers, pesticides, plastics materials and medicinal products worth $7.256 billion imported in order to fulfill the domestic requirements as compared the imports of the same period last year.

The import of above mentioned commodities into the country stood at $6.196 billion during first ten months of last financial year, according to the Pakistan Bureau of Statistics.

During last 10 months of current financial year, imports of agricultural chemicals into the country recorded about 17.10 percent growth as compared to the imports of the same period last year.

About 1,298,820 tons of fertilizer valuing $457.938 million were also imported during the period under review as compared to the import of 1,519,626 metric tons valuing $513.959 million of the same period last year.

In order to enhance output of agriculture sector during current season, an amount of $152.310 million was spent on the import of 32,561 metric tons of insecticides as against the import of insecticides valuing $130.679 during the same period of last year.

During last 10 months of current financial year, country spent $990.669 million on the imports of medicinal products as it imported 29,350 metric tons of medicinal products as compared the imports of same period last year.

In the first 10 months of the current financial year, imports of medicinal products into the country was recorded at 17,632 metric tons valuing $831.022 million, which was up by 9.74 percent.

It is worth mentioning here that output of local agriculture crops including wheat, rice, maize and sugarcane witnessed growth.

The government also intended to facilitate the agriculture sector in its federal budget 2021-22 in order to further strengthen the agriculture and livestock sectors to achieve sustainable economic growth and improve the rural economy.