Karachi, January 19, 2023 (PPI-OT):Overseas Investors’ Chamber of Commerce and Industry (OICCI) has proposed the Food ministry to develop a policy and protocol for seed research and development (R and D) under the public private partnership (PPP) mode, a statement said on Wednesday. “The purpose of recommendations is to bolster efforts of increasing agricultural productivity in the country, primarily focusing on major crops, cotton and wheat, as well as for maize and tobacco in addition to recommending steps for improving the dairy sector,” M. Abdul Aleem, chief executive of OICCI stated.
He said the recommendations were needed in view of the devastation caused by catastrophic floods last year, and could also be leveraged for application in other crops. The suggestions were formally presented to Chaudhary Tariq Bashir Cheema, Minister for National Food Security and Research.
OICCI strongly pitched the case for introducing public-private partnerships for seed development and research, stating that low quality seeds with little to no genetic modification had rendered crops susceptible to pest attacks and rising temperatures. “Seed development has been stagnant in the country with the last major seed development coming over a decade ago,” Aleem said.
Public-private partnerships to help bring in global expertise to improve hybridisation of seeds and bring in modern technology along all steps of the sowing cycle, according to OICCI chief. He added that OICCI believed agricultural supply chain was in a relatively nascent state with access to markets widely dispersed and low prices being offered to farmers. “Authorised central warehousing facilities, cold supply chain (especially for dairy products), and globally updated testing and lab facilities are major requirements, which can be achieved through collaborations with the private sectors.”
Aleem said there was a need to modify collateral requirements to accommodate the agriculture sector, adding stringent collateral requirements limit access to credit opportunities for traditional farmers. Dependent on informal local lenders (Aarthis), which provide loans on exorbitant rates, small farmers are cash-strapped during the sowing cycle.
Collateral requirements on farmers should be eased by the central and move towards alternate collaterals such as livestock and crops, according to OICCI president. Alternatively, register and finance aarthis to channelize soft loans for farmers, he observed. Terming application of farm nutrients vital for growth of agriculture sector, OICCI called for subsidising phosphate and potassium-based fertilisers.
“The steep rise in agricultural input prices, especially fertilisers, has resulted in farmers cutting down fertiliser usage during critical time of the sowing cycle.” Aleem further stated that it was necessary due to the fact that over-dependence on nitrogen-based fertilisers on the back of high prices of phosphate and potassium-based fertilisers) affects the soil balance and productivity of the crop. OICCI is a collective body of top 200 foreign investors in Pakistan, which is said to be one of the largest contributors to the national economy. Its members include some of the leading international companies.
For more information, contact:
Overseas Investors Chamber of Commerce and Industry (OICCI)
Chamber of Commerce Building, Talpur Road, P.O. Box 4833,
Karachi – 74000, Pakistan
Tel: +92-21-32410814-5
Fax: +92-21-32427315
Email: info@oicci.org
Website: http://oicci.org/