Pouring oil over $1.9b annually

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Despite large scope for edible oilseeds production, the aid-dependent Pakistan is bearing a dint of $1.9 billion annually due to import of edible oil, sources reported. According to sources, Pakistan is importing more than 2 million tonnes edible oil annually for which the country is paying over US $ 1.9 billion against 2.2 million tonnes of local production as edible oil seeds production area has been neglected for many years. “Long run agriculture growth can be boosted up by investment in such avenues which will also help to save foreign exchange by reducing edible oil imports,” said the source. According to an official, the country presently produces only about one fourth of domestic demand. There is a large scope for edible oilseeds production. In Sindh sunflower cultivation has been successful and the support price of Rs 2,220 per mound is also an incentive for small farmers to diversify their cropping patterns. In Punjab and Khyber Pakhtunkhwa, special initiatives for cultivation of olive are being taken. Particularly, Punjab Agriculture and Meat Company’s (PAMCO) project of declaring Potohar region as olive valley can be a significant development. In this regard, PAMCO has taken initiative to develop certified nurseries through private sector starting from Potohar including Attock, Rawalpindi, Chakwal, Jehlum and Khushab districts.