Pakistan-An Agrarian Economy
Agriculture is the backbone of our economy, playing a key role in the socioeconomic growth and sustainability. Since the inception of Pakistan, this sector has been neglected by successive governments which could not helped to become an Agrarian Economy. Although, half of our population is dependent upon agricultural sector for earning livelihood and adding to foreign direct investments, our failed policies has wrecked havoc on this sector. Despite contributing to 24 pc to GDP, largest source of foreign exchange earnings and employing second highest labour force, malnutrition and poverty are higher in rural than Urban areas. Netherlands, a country much smaller in size and population has gained immense advantage from agricultural sector due to commitment and political will. Unfortunately, Pakistan still relies on outdated agricultural practices, adding to economic woes. Technological advancement in advanced industrialised countries have made them dominant and influence in the geopolitical world. Secondly, global best practices can take us parallel to developed countries. Technological intervention in agricultural sector can create Job creation by providing socioeconomic opportunities. The main issue is the commitment gap and implementation issue. Firstly, Government should allocate sufficient funds to meet growing needs of this sector and ensure market stability. The resource utilisation should be done in line with the demands. Secondly, government should direct incentives and loans to motivate farmer otherwise food insecurity will largely impact the national economy. Strict rules and regulations should be enforced to put an end to hoarding to stop monopoly. In short, investment in agricultural sector promises bright future prospects, if political willprevails.
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