As investment-starved Pakistan puts its 1.1 million acres of agriculture land on the auction block next year, farmers wonder what it would mean for food security and social fabric of the country.
The Pakistan government is all set to provide legal cover through parliament to protect foreign investors and their investment in all sectors particularly agriculture. “We are in talks with investors from Gulf states, particularly Saudi Arabia, for investment in corporate farming. Investors will be ensured repatriation of 100 per cent crop yield to their countries even in case Pakistan faces food deficit,” Federal Investment Minister Waqar Ahmad Khan said.
The Pakistani government has finalised plans to offer ownership of agricultural lands to investors for farming to achieve self-sufficiency in agriculture produce, Federal Minister for Investment, Senator Waqar Ahmad Khan told Daily Times. “We are extremely enthusiastic in providing areas for farming with great incentives,” he added.
The initial welcome given to rich countries’ investment in African farmland by agricultural and development officials has faded as the first ventures prove to be heavily weighted in favour of the investors. The FAO warned of such a trend when it said this year that the race to secure farmland overseas risked creating a “neo-colonial” system.
Gulf nations now are quietly scouring the globe for rich farmland to rent or buy outright.
As the Gulf's agricultural production rates slow and food prices around the world continue to rise, GCC members are investing heavily in the fertile lands of Africa and Asia.
This analysis looks at how the oil-rich Muslim economies could leverage their existing relationships with agriculture based Muslim economies (which have a wide productivity gap with the worlds net agriculture exporters) taking them to globally competitive levels; reaping for themselves high investment returns, securing their own food sources, and contributing to alleviation of the food crisis from other Muslim countries.
Some experts believe that the emphasis should be on overseas agricultural investments as well as a boost in trade relationships, due to the unavoidable handicaps to domestic agriculture.
Talks are on with investors from Qatar, UAE and Saudi Arabia. 25,000 Punjab villages will be affected.
Arabia is phasing out its domestic wheat growers and seeking to shift production overseas.
Conséquence directe de la crise alimentaire mondiale et de la volatilité des cours, les projets d'achat ou de location de terres agricoles à grande échelle, parfois sur des centaines de milliers d'hectares, se multiplient.
Pakistan’s minister for privatization and investment, at a recently held forum in Dubai, announced that Pakistan was willing to provide land with 100 per cent ownership rights and that the buyers would be free in importing the agri-produce to their country as well.
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