Agriculture is the backbone of the national economy, but it is also a bitter truth that only 23.77 million acres of land in Pakistan is agricultural, which is 28% of the total land area, and even in this, more than 8 million acres of land is lying idle.

This sector of the national economy was badly affected during the last decade. Another sector is minerals which has the potential to provide economic benefits to the country.

The former coalition government formed the Special Investment Facilitation Council (SIFC) to bring the idle potential of agriculture, minerals, IT, energy and other sectors to work in the form of investments, which brought together Gulf states and other countries. As many as 20 projects have been identified and approved for investment worth billions of dollars. These include a project in the agriculture sector where it has been decided to give 85,000 acres of land to an investor for corporate farming.

There will be corporate farming on 50 thousand acres of Cholistan. A corporate dairy farm will be built on 15 thousand acres. In which there will be 30 thousand cattle and a 10 thousand acres fodder farm will be built for one lakh cattle.

Other projects include Saudi Aramco Refinery, Tapi Gas, Thar coal Rail Link, GB Hydro Project, Cloud Infrastructure and Telecom Infrastructure.  A Special meeting reviewed legislation for research to explore the availability of lithium and a joint investment corporate contract with Afghanistan.

PPL barite, lead-zinc project to be sold to potential investors, among other issues were also considered. The way special attention is being given in the fields of agriculture and minerals, if they are fully implemented, the country will definitely be self-sufficient in food and the economy will also be restored.

In a couple of years, our agricultural economy will be restored. After which we will not have to go out and ask for loans.  Gulf countries are ready to invest under this program. To attract foreign investment, we should emphasize on political stability for economic security, without which no foreign country would be willing to invest.  Pakistan has vast reserves of minerals and natural resources including mines of coal, gold, copper, bauxite, mineral salt, chromite, iron and various types of precious stones.  Along with minerals, another sector that has the potential to provide economic benefits to Pakistan is agriculture.

Recently, the Apex Committee of the Special Investment Facilitation Council approved various foreign investment projects in agriculture, livestock, mining, minerals, IT, energy and other sectors. Petroleum Summit , IT conference and the situation after the release of agricultural farms and the investment of Gulf countries and China were also reviewed.  SIFC is an important road map for the promotion of investment in the country. The economic scenario of Pakistan has changed with the investment of Gulf countries and China. After China, the Saudi delegation is also ready to come to Pakistan for investment. Chinese companies have invested more than 30 billion dollars in CPEC, which is the foundation of a new era for Pakistan-China friendship.

There are vast investment opportunities in Pakistan which can be utilized to change the destiny of this country and nation suffering from economic crisis.  China Pakistan Economic Corridor (CPEC) is the biggest project in this regard. This grand project of investment of billions of dollars started in 2013, ten years of which have been completed. Not only Pakistan, Iran, Afghanistan, Central Asia and the Middle East will get its fruits, but due to hatred of China, some forces, especially India, started blocking it from the very first day, due to which this project delayed.

There was a delay in the delivery. The former coalition government in Pakistan removed the local obstacles after coming to power and now there are signs of doubling the speed of its implementation. Pakistan has also made a generous offer to India to benefit from the fruits of the CPEC instead of being an obstacle. At a time when almost all the surrounding countries have indicated to join the CPEC, India should also respond positively to this offer.

It is a plan to end poverty, unemployment and economic depression. This is not just an improvement in road, rail, sea and air routes, but a wonderful plan to participate in health, education, skills and development process and to raise the standard of living of the people in the region and lift them out of poverty and live in peace. This will increase industrial and agricultural cooperation and productivity in the region and beyond.

Pakistan is also eager to undertake many other initiatives to promote foreign investment and the Pakistan Army is also on the same page with the government in this regard.

The apex committee of the Investment Council which has been established in this regard includes Army Chief and DG-ISI.

A roadmap has been prepared for attracting foreign investment in five economic sectors and their development.

These sectors include agriculture, energy, information technology, minerals and defense production.

Foreign investors will be provided with all the facilities under one roof under one window operation to invest in them and special security facility will also be provided.  Friendly countries will be asked to invest in Pakistan instead of aid. Foreign investment will create employment opportunities and open new avenues of development. Accelerating the pace of CPEC, these foreign investment incentives are auspicious for the economic recovery of the country, by implementing which Pakistan can get out of the current difficulties and become the most prosperous country in the region.

Meanwhile, a number of foreign states, mainy Gulf States, are ready to invest in Pakistan’s project like the Green Pakistan Initiative. The Army Chief expressed the firm commitment of the army to make Pakistan green and Prime Minister Shahbaz Sharif added to the significance of his announcement by saying that Green Pakistan, which can rightly be called the Agricultural Revolution.

 General Asim Munir said in his speech that we have all kinds of capabilities. Pakistan has to develop which no power in the world can stop. Pakistan Army will fulfill the aspirations of the nation with full zeal in implementing all government initiatives like Green Pakistan under the Special Investment Facilitation Council.

Financial experts say that the Green Initiative will be the second major green revolution for the country after 1960, which will open new avenues of development for Pakistan, under which foreign investment of 150 billion dollars is expected in the next five years, 40 lakh people will get employment.

Published in The Daily National Courier, August, 25 2023

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.