PML-N urged to revive agriculture economy

May 16, 2013

Agriculture Economy
Agriculture Economy

Fertiliser Manufacturers Pakistan Advisory Council (FMPAC) congratulating PML-N leadership Mian Muhammad Nawaz Sharif and Mian Muhammad Shahbaz Sharif for securing the majority in election has hoped that PMLN Government would revive the agriculture economy of the country to ensure farmers’ well being and food security of 190 million countrymen.

Pakistan despite being an agriculture economy, agriculture sector remained the worst hit and most neglected area of economy in last few years. With the PMLN government in the power, we are confident that Mian Nawaz Sharif would ensure early revival of the agriculture sector through better and long-term policies, said FMPAC Executive Director Shahab Khawaja in a statement issued here on Wednesday.

Shahab Khawaja said that PMLN leadership fully understands the importance of agriculture sector for the quick revival of the economy and fertilizer sector being an integral part of agriculture economy would be given due importance while allocating the precious gas resources.

Mian Nawaz Sharif’s pro-industry approach, which he demonstrated in his previous governments, is a sign of relief for the industries and it is his government’s policies that lead to increase of fertilizer production in the country, he added. He said due to worst-ever gas curtailment to fertilizer sector in last 3 years, country spent foreign exchange of US $1.5 billion and also paid a subsidy of around Rs 80 billion on the imports of 3.4 million tons during 2010-12. He said that fertilizer sector is the only sector bringing in direct investment and now this investment is at the verge of risk as severe gas curtailment of the industry has resulted in closure of these plants risking billions of dollars of investment in the sector.

He said that Fertilizer plants invested US $2.3 billion in last 4 years making Pakistan self-sufficient in urea production and with consistent gas supply to these plants, Government can ensure timely availability of this key farm input to farmers at the cost-effective rates and would also help GOP to reduce its fiscal deficits as well as subsidy spend. Shahab Khawaja said that Pakistan cannot afford to spend hundreds of millions of dollars on urea import and we are hopeful that PMLN government would ensure judicious distribution of gas amongst all the sectors of economy. Business Recorder

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