Joint ventures for agri uplift should be invited: PTA
By Razi Syed
KARACHI: The Ministry of Investment (MoI) has decided to offer one million acres of farmland for long-term investment or sale to foreigners and an Emirates Investment Group.
Emirates Investment Group is in the process of acquiring farmland in Pakistan to export more food to Gulf region, Chairman Pakistan Tanners Association (PTA), Agha Saiddain said Wednesday. Instead of selling land it would be better to sell its yield to the people in the Gulf Region.
Apparently the decision of continuation of privatisation process looks similar to selling shares of PTCL, DFI’s, banks and other state enterprises or attracting foreign investment, he added.
“But if it is seen in depth and historical perspective this can have serious repercussion in the future.”
Selling one million acres of farmland does mean inviting East India Company to our country once again.
It can create security risk for the country and the decision to offer farmland to foreigners is far away from foresight and vision and is only to draw short-term gains at the cost of selling the homeland.
If the authorities are bent upon selling the land then it would be better to lease it so that Pakistan has the right to get the land back after expiry of lease period.
For utilisation of such land the government should prefer local investors and poor landless farmers and support them in cultivation of land to increase our GDP and per capita income.
This issue is full of adversities and needs caution and thorough discussion in parliament before signing it.
There are many other options to utilise the land, instead of selling, the government should offer such land on 30-year lease, secondly, the farmland may be offered to domestic investors on comparatively easy terms and thirdly the government may distribute this land among landless farmers and help them to cultivate the same.
Similarly, China and Middle East countries are reported to have invested in horticulture sector to the tune of $5 billion in Pakistan during the current year. “This is the right way to invite FDI with sharing formula as in this case,” he added.
“Saudi Arabia and China are interested to acquire land on lease besides to join hands with the private sector stakeholders for growing soft crops and vegetables.”
China and Middle East will be the key players of investment in horticulture sector as they were interested in rice, wheat and vegetable crops in the country, he added.
He said it was expected that after investment the country could save most of its exports of agricultural produce as it was hampered by lack of modern storage facilities, conform to international standards.
