LAHORE: The Federation of Pakistan Chambers of Commerce and Industry’s United Business Group (UBG) on Wednesday urged the government to work out result oriented packages of incentives to hard hit flood affected farmers to avert impending hovering food crisis.

Talking to a delegation of flood affected farmers drawn across the country led by Haris Ahmad, UBG Chairman Shahzad Ali Malik, here on Wednesday said the super flash flooding has crippled our agriculture sector, crops along with thousands of livestocks and stores of wheat and fertilisers have also been damaged prompting warnings of looming food crisis. He said the damage to agriculture sector could also be felt across the globe.

He said Pakistan is one of the top producers and exporters of cotton and rice crops that have been devastated by the flood. As such half of our cotton has been destroyed, an alarm to global cotton production in a year when cotton prices have soared as other major producers from the US to China have also been hit with extreme weather. He said double digit inflation sent the prices of basic goods soaring in Pakistan making difficult for farmers to buy agricultural inputs.

Shahzad Ali Malik said floodwaters also threatened to derail wheat planting this fall raising the possibility of continued food shortfall and prices spikes through next year.

Copyright Business Recorder, 2022