Rs. 537.646mn released under PSDP 2016-17 for food security
The government had released Rs. 537.646 million under its last year’s Public Sector Development Programme (PSDP) against the total allocation of Rs. 573.646 million for the uplift of agriculture sector of the country. The Ministry of National Food Security and Research had utilized all the allocated funds under PSDP 2016-17 on its various developmental projects. The government had spent Rs. 195.447 million on the research for agriculture development programme as against the total allocation of Rs. 195.447 million for the financial year 2016-17. Under PSDP 2016-17, the government had released Rs. 50 million for indigenization of hybrid seed production for enhanced crop production as against the total allocation of Rs. 50 million.
Soyabean oil import decreases by 35.35% in 11 months
Soyabean oil imports into the country during last 11 months of current financial year decreased by 35.35 percent as compared with the imports of the corresponding period of last year. During the period from July-May, 2016-17, about 87,551 metric tons of soyabean oil valuing US$ 112.531 million were imported to fulfill the domestic requirements as against the imports of 134,943 metric tons valuing US$ 174.59 million during the same period of last year. According to the data of Pakistan Bureau of Statistics, palm oil imports into the country during last 11 months grew by 12.76 percent and reached at US$ 1.746 billion.
Farmers fare better due to subsidy on urea
The government’s subsidy on urea has made farmers better off by Rs100 billion during July 2016 to March 2017 compared to the same period of previous year, according to the State Bank of Pakistan (SBP) calculations. The support significantly improved the output of important crops like cotton, sugarcane, maize and rice during the first nine months (Jul-Mar) of fiscal year 2016-17 (FY17).
Host: Sajid Farooq
Co-host: Tanvir Hussain