Tag: agriculture

Mar172023 by Waqas-ChNo Comments

Agri sector can wipe out CAD in 6 years

KARACHI: Pakistan’s agriculture sector has the potential to overcome the current account deficit and balance-of-payment crisis within six years, according to State Bank of Pakistan (SBP) Former Governor Salim Raza. Speaking at ‘Agri Connections 2023’, organised by the Pakistan Agricultural Coalition (PAC) on Thursday, Raza noted that the agriculture sector must sustainably grow at 6% to achieve the necessary economic growth and job creation. He added that the agriculture growth rate has remained stagnant over the years, contributing to a trade deficit of $5.5 billion in food and cotton imports in FY22, further widening the current account deficit to $17.4 billion in the same year. The PAC study highlights practical solutions to boost the agriculture sector’s major crop yields up to i...

Mar82023 by Waqas-ChNo Comments

Pakistan, China sign agri-cooperation DoU

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ISLAMABAD: In a move to promote strategic cooperation between China and Pakistan in industry-university research on modern agriculture, documents of understanding (DoU) were signed by the National University of Sciences and Technology (NUST), Weifang Engineering Vocational College, Qingzhou Municipal Government and Weifang National Comprehensive Pilot Agriculture Zone at Weifang last week. The four sides agreed to work together for promoting agricultural technology cooperation under the framework of China-Pakistan Economic Corridor (CPEC), with focus on construction of the entire agricultural industry chain, deep processing of agricultural products and related industrialisation. “Agriculture sector in the South Asian region is struggling with low productivity, supply shortfalls, low ...

Feb282023 by Waqas-ChNo Comments

North Korea’s Kim orders ‘radical change’ in agriculture | Agriculture

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North Korean leader calls on officials to meet production targets after South Korea warns of “grave” food situation.North Korean leader Kim Jong Un has called for a “radical change” in agricultural production amid concerns over reported food shortages in the isolated country. Kim emphasised the importance of meeting grain production targets and transforming production to lay the “foundation for the stable and sustained development of agriculture” during the second day of a key party meeting, the state-run Korean Central News Agency reported on Tuesday. “He expressed the fixed determination and will of the Party Central Committee to bring about a revolutionary turn in the agricultural production without fail, saying that nothing is impossible as long as the strong leadership system is es...

Jan132023 by Waqas-ChNo Comments

Why inflation hit these 10 items hardest in 2022

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David Paul Morris/Bloomberg via Getty ImagesInflation popped in 2022 to a level unseen in four decades.But prices ballooned more rapidly for certain items than others, largely concentrated among food, fuel and airfare.Some of those swings were due to outlying factors that extended beyond broad inflationary pressures such as snarled supply chains, labor shortages, burgeoning consumer demand and Russia's invasion of Ukraine.Here's a look at the 10 items with the largest price gains, as measured by the annual inflation rate in December. Percentages are from the latest consumer price index data, issued Thursday.Food at school: 305.2%The price of a meal at elementary and secondary schools spiked the most in 2022, by a whopping 305%.In the early days of the pandemic, the federal government en...

Dec232022 by Waqas-ChNo Comments

Agriculture Minister Narendra Singh Tomar

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"Digital payments have helped to increase transparency," the Minister said. (File)New Delhi: Union Agriculture Minister Narendra Singh Tomar today said that ayment from the government was directly reaching farmers' accounts."Digital payments have helped to increase transparency and farmers are being benefited," he added. "We have become the largest exporter of sugar in the world."While speaking at a conference in New Delhi on Thursday, he said, "Under Prime Minister Narendra Modi's One Nation-One Ration Card scheme, there are machines installed in 5 lakh fair price shops across the country. From this huge network of fair-price shops, the common people are getting their rations. Because of this, the bogus cards were also eliminated."The Minister said when a person uses a ration card in D...

Nov282022 by Waqas-ChNo Comments

World Bank to provide $1.3 billion to Pakistan for emergency, agriculture and housing relief

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The World Bank (WB) said on Wednesday that it was planning to provide Pakistan $1.3 billion for emergency, agriculture and housing relief in the wake of catastrophic floods this year, according to a press release issued by the Ministry of National Food and Security. The funds will be released after approval from the international lender’s board meeting in December, World Bank Regional Director for Sustainable Development John A Roome said in a meeting with Federal Minister for National Food Security and Research Tariq Bashir Cheema. Separately, the World Bank has also agreed to provide the country with financial support for subsidising urea for flood-affected farmers. During the meeting today, Cheema informed the delegation that the recent floods and rain had resulted in colossal loss...