Agri sector witnesses dramatic slowdown: PKIC

Business Recorder

2 days ago

ISLAMABAD: The country's agriculture sector has witnessed a dramatic slowdown, with growth dropping to 0.56 percent from 6.25 percent since July 2024, Pakistan Kissan Ittehad Council (PKIC) President Khalid Mehmood Khokhar said on Wednesday.
Addressing at a press conference, he said that the decline in major crop yields has severely impacted both the economy and the livelihoods of farmers.
He said that cotton production has dropped to 5.55 million bales — 50 percent below the government's target and 34 percent less than last year.
Cotton import bill is projected to surge to $1.9 billion, up from $448 million the previous year, he said.
Khokar said that the country's wheat production has also suffered, declining by 8.91 percent to 28.98 million tons from last year's 31.81 million tons. Maize production fell by 15.4 percent to 8.24 million tons, compared to 9.74 million tons in the previous year, he said.
Khokhar stated that since May 2024, farmers have collectively suffered losses of around Rs2,200 billion in wheat alone — equivalent to 23.15 percent of the crop sector's contribution to GDP for the fiscal year 2023–24.
The resulting financial strain has weakened farmers' purchasing power and affected the productivity of other crops as well, he said.
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