AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: The Chairman of the National Business Group Pakistan, Mian Zahid Hussain, welcomed Prime Minister Shahbaz Sharif’s announcement of agricultural reforms, which he said could signal a revival in the industrial sector and provide long-term economic relief for farmers.
Hussain emphasized that the Prime Minister’s focus on affordable agricultural loans, modernization of farming practices, and collaboration with the private sector marks a significant shift in policy. Speaking to the business community, he highlighted that agriculture accounts for 23.54% of Pakistan’s economy and employs nearly 40% of the labor force, yet faces challenges such as water scarcity, climate change, and outdated methods.
The sector grew by only 0.56% in the fiscal year 2025, its lowest rate in nine years, with recent rains and potential flooding threatening to worsen the situation. A 13.49% drop in primary crop production has already contributed to rising rural poverty.
Hussain praised the government’s decision to offer low-interest loans through a public-private partnership model, which he described as a step towards economic growth. These loans could help farmers adopt modern machinery and techniques, boosting both yields and incomes.
However, he warned that the initiative’s success hinges on transparent and timely implementation. He advocated for reforms in the Agricultural Development Bank to ensure the credit system is simple, depoliticized, and transparent. Many farmers, he noted, are unable to access formal credit and fall into informal lending traps.
He also appreciated the Prime Minister’s focus on zoning, value chains, and export strategies. Investment in storage infrastructure and agricultural technology could not only improve yields and food security but also open new markets for Pakistani produce.
Hussain stressed that coordination between federal and provincial governments is crucial to ensure the reforms reach grassroots levels. He noted that the Prime Minister’s vision has the potential to rebuild trust in government-led development among farmers and agricultural stakeholders.
By prioritizing structural reforms and inclusiveness, the government can bridge the gap between policy and practice, potentially setting a precedent for sustainable economic growth in Pakistan.