Today: November 21, 2017

To Contribute →

Login Register

Weaknesses in agriculture structure a threat to GDP

February 6, 2016 at 2:40 pm | News Desk

LAHORE: May 04 – Farmers busy in harvesting the wheat in their field during the hot day in Provincial Capital City. APP photo by Rana Imran

President Society Watch Khalid Mehmood on Saturday said weaknesses in the structure of agriculture is keeping this sector fragile which is a threat to GDP growth rate.

Masses continue to pay extra for food in the name of national interest which has not improved lives of the farmers but that of rural elite, he said.

In a statement issued here today, he said that masses are forced to buy wheat at 40 percent inflated price as compare to rates in the international market while they pay 20 percent extra for rice and 30 percent additional money while buying milk.

Khalid Mehmood said that despite getting heavy price the agriculture sector is in doldrums due to distortions which must be tacked to streamline things.

He said that prices of palm oil has been dropped in the international market while that of vegetable oil have dropped by 30 percent but the Ghee cartel has not shared benefit with masses but officials concerned.

The support price of wheat is 40 percent over and above the international market which result in surplus every year while the commodity worth billions is lost due to insufficient storage facilities, he noted.

He said that a five percent increase in agriculture production can result in 1.5 percent GDP growth having a positive impact on poverty and unemployment.

 

News Desk

Economic Affairs Editor

Leave a Reply

Be the First to Comment!