AVN Report
KARACHI: Experts emphasized the need for technological innovations in agriculture to enhance crop yields and fully utilize the country’s fertile lands, arguing that these advancements could significantly boost Pakistan’s food production and export capacity.
Addressing a seminar titled ‘AgriTech: Feeding the Future,’ chief guest Zubair Motiwala, CEO of the Trade Development Authority of Pakistan (TDAP), highlighted Pakistan’s substantial agricultural potential, given its rich natural resources and favorable climate.
He noted a significant increase in agriculture and food exports, which have risen from $5 billion to $8 billion over the past year, bolstering the nation’s foreign exchange reserves.
Motiwala pointed out that currently, only about 50pc of Pakistan’s agricultural land is being utilized, stressing that efficiently using the remaining land could allow Pakistan to meet half of Asia’s food demand.
He also identified the Gulf Cooperation Council (GCC) countries and China as promising markets, urging local companies to invest in research and development to tap into these opportunities.
He announced several initiatives aimed at providing farmers with access to technology and training, which have already shown promising results in terms of increased yields and production.
Motiwala suggested that with better value addition, agricultural production could grow by sevenfold but cautioned that financial barriers need to be addressed to empower grassroots farmers. He called for reducing the role of intermediaries, establishing efficient supply and cold chains, and expanding the agriculture sector both horizontally and vertically.
Mohammad Atif Hanif, CEO of Al Baraka Bank Pakistan Limited, underscored the importance of financial support from banking institutions to ensure sustainable growth in agriculture. He mentioned that a 10pc increase in agricultural growth could feed an entire nation, underscoring Pakistan’s vast export potential.
Hanif also highlighted the issue of financial inclusion, noting that while Pakistan has 100 million adults, many lack bank accounts, with 75pc of them engaged in agriculture. He emphasized that out of this large, unbanked population, only 2.5 million are currently borrowing customers within the sector.
Hanif advocated for stronger collaboration among the banking, agriculture, and corporate sectors to explore opportunities in the $1 trillion Halal food industry, where Pakistan’s current share stands at a mere $500 million.
Saquib Fayyaz Magoon, Senior Vice President of the Federation of Pakistan Chamber of Commerce and Industry (FPCCI), reported significant advancements in agricultural technology, leading to an 11.03pc increase in crop growth in the last financial year.
The event also featured roundtables organized by ITCN Asia, including the Future Leaders Awards, Ideathon, and conferences on the role of the Special Technology Zones Authority (STZA) in the knowledge economy and the local creative economy’s position in the global market.
Ecommerce Gateway Pakistan Pvt Ltd facilitated the conference and exhibition.
