Economic transformation: Punjab allocates Rs75bn to various initiatives

LAHORE: Punjab Minister for Agriculture and Livestock Syed Ashiq Hussain Kirmani said on Thursday that the provincial government has allocated Rs75 billion in the current fiscal year for initiatives aimed at promoting economic transformation.

He expressed these views while addressing the ‘Agri Connect Workshop’, which was attended by Secretary Agriculture Punjab, Iftikhar Ali Sahoo, World Bank Practice Manager Rabih Karaky, agricultural experts, representatives of the private sector, and other stakeholders.

During the workshop, participants deliberated on various issues related to agricultural productivity, improvement of value chains, and promotion of value addition.

Syed Ashiq Hussain Kirmani further added that the promotion of agricultural mechanization is among the top priorities of the Chief Minister Punjab. In this regard, the provincial government has spent Rs70 billion over the past two years to promote agricultural mechanization. He added that the active role of the federal and provincial governments, along with the private sector, has contributed significantly to improvements in the agriculture sector.

The Minister further said that practical measures are being undertaken to strengthen the value chain of agricultural products and promote value addition in Punjab. He emphasized that establishing strong linkages between farmers and various stakeholders in the agricultural value chain is essential to enhance farmers’ incomes and further strengthen the agricultural economy.

He further stated that the present government is taking effective measures to create business opportunities for farmers and connect them with modern markets. He added that the private sector is also being engaged as a partner in ensuring food security and establishing strategic reserves, thereby promoting sustainable growth in the agricultural sector.

Speaking on the occasion, Secretary Agriculture Punjab, Iftikhar Ali Sahoo, said that effective collaboration among the government, private sector, and farmers is indispensable for sustainable agricultural development. Appreciating the World Bank’s support for the Agriculture Transformation Program in Punjab, he noted that this partnership is creating new opportunities for modern reforms and investment in the agriculture sector.

World Bank Practice Manager Rabih Karaky stated that the primary objective of Agri Connect is to promote agribusiness, create investment opportunities, and generate employment. He said that the World Bank is playing an important role in advancing agricultural development and improving agricultural value chains in Punjab and will continue its support in the future.

Copyright Business Recorder, 2026