Investment in corporate farming areas: FPCCI highlights criticality of creation of proper infrastructure

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Central Standing Committee on Agriculture recommended the Fauji Foundation and provincial governments to establish roads, canal system and electricity infrastructure in corporate farming areas under SIFC which were identified for the investors especially in Cholistan belt.

Convenor of FPCCI Agriculture Standing Committee, Chaudhry Ahmad Jawad on Wednesday said military and federal government are determined to take up agricultural sector under SIFC which is positive for the country, but yet due infrastructure for the investors are not seen. It needs to be speed up.

Jawad said under the banner of the SIFC, Fauji Foundation has created a company to help manage corporate farming projects, plenty of local companies are signing MoUs.

FPCCI committee chief also stated that as per data of the new companies registered by the Securities and Exchange Commission of Pakistan during FY23, corporate agriculture farming firms were a mere 732.

He further said we must understand we are at a crucial crossroads when it comes to agriculture. The current situation is such that the country’s population is growing at a higher rate than the rate at which food production is growing. In an international ranking of the Global Hunger Index (GHI) this year, the country ranked 92 out of 116 nations, with its hunger categorised as “serious”. Pakistan currently faces a scenario in which it is largely food sufficient but not food secure.

Copyright Business Recorder, 2024