ISLAMABAD: The Senate Standing Committee on Finance referred the government bill, “The Cannabis Control and Regulatory Authority Bill 2024”, aimed at regulating the cultivation of cannabis plant, extraction, refining, manufacturing and sale of derivatives of the plant for medicinal and industrial use to the Standing Committee on Science and Technology.
The committee met with Saleem Mandviwalla in the chair here on Friday to consider the “The Cannabis Control and Regulatory Authority Bill 2024”.
Officials of Pakistan Council of Scientific and Industrial Research (PCSIR) and Science and Technology Ministry while briefing the committee, stated that cannabis if regulated and value added, it could not only replace cotton in textile industry, but also generate around $4 billion to the country’s economy including exports. Currently, cannabis is planted illegally and generate around $300 million, but if it is brought in framework, it can bring up to $4 billion through proper channel.
Globally cannabis is a market of around $60 billion, said the officials, adding that it can be used a major input and replacement for cotton in textile industry, medicines as well as entertainment as it is less harmful compared to other synthetic products.
The committee was also informed that in 24 States of the United States, cannabis is allowed which resulted in reducing the use of alcohol.
The objectives of the Cannabis Control and Regulatory Authority is to ensure public health and safety by regulating the cultivation, extraction, refining, manufacturing and sale of Cannabis and its derivatives in accordance with international obligations and best practices. Furthermore, reduce illicit trafficking by legalizing and regulating the cultivation and production of cannabis in designated areas thereby providing better margins directly to farmers and mitigating social harm. Promote local development of cannabis based medicinal and industrial products, exports generation and attracting foreign direct investment.
Senator Zamir Hussain Ghumro objected to the proposed legislation, while said it is provincial subject and in contradiction with 18th Constitutional amendment. He proposed that legislation should be made only to the ICT jurisdiction.
The committee was informed that proposed legislation was referred to the finance committee in the absence of Senate Standing Committee on Science and Technology and Defence, which were supposed to be the relevant committees.
However, Senator Shibli Faraz said that the standing committee on Science and Technology was constituted and the bill should be referred there.
The chairman committee referred the bill to the Standing Committee on Science and Technology.
Copyright Business Recorder, 2024
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