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The need of the hour and our current economic situation suggests that we should focus on agriculture rather than the industry. There is intense competition in the industrial sector as countries such as China and the United States enjoy a competitive edge over us and can sell at lower prices or better quality. We need to focus on our strong points and develop the agriculture sector.
The cost of production in Pakistan is very high as factories run on oil, electricity, gas and water. There is an acute crisis of these factors of products leading to higher costs. Hence, we fail to increase exports, our trade deficit has remained stagnant for decades and we were never really considered an economic power.
In Pakistan, industrialists have always received massive subsidies from successive governments, which have only benefitted them and not the country. We cannot end our trade deficit by putting all efforts into the growth of industries. We need to focus on improving agriculture instead.
We enjoy a comparative advantage in agriculture over other countries. It will also reduce the cost of food items and save income.
There are food shortages globally but all countries cannot increase agricultural production due to their land, weather and other factors. Pakistan has been blessed with fertile lands and four seasons, but sadly we have never paid attention to our farmers. They have been at the mercy of brutal feudal lords and productivity has suffered. The industrialists deliberately post losses in factories to avoid taxes and show all benefits in lands that are tax exempt. Small farmers cannot avail banking facilities and neither are banks interested in reaching out to them.
The government should instruct banks to provide loans to farmers without any hassle and complications so they can cultivate lands on modern methods. Water management is also in the control of feudals and farmers face immense difficulties in growing crops. Due to the lack of warehouses and efficient transport, farmers do not have any storage facilities. They have no option but to sell their produce to third-party middlemen at lower prices. These are hoarded which leads to artificial shortages causing inflation and people end up paying higher prices.
The budget allocated by the present government agriculture sector will once again benefit landlords and the feudals. A poor farmer does not know how to secure a loan due to complications in the banking system. The State Bank should simply the procedure and enable farmers to secure loans. This is the main reason for the decline in agriculture productivity.
Pakistan reports an increase in wheat production every year and had bumper crops. Yet the government imports wheat which uses precious foreign exchange reserves. We need to build storage facilities like grain silos to maintain wheat stocks for years. Despite being an agricultural nation, we lack such facilities due to which our grains are spoiled due to rain, pests, and climate. It is beyond comprehension that we export grain by showing surplus and then have to import it again. It is imperative that we prioritise the agricultural sector.
