Minister for National Food Security and Research Rana Tanveer Hussain on Friday expressed the government\u2019s firm resolve to facilitate oil seed farmers attaining self-sufficiency in edible oil production and reducing imports.
\nAddressing the two-day Grand National Pak-Oilve Gala 2024, the minister said that agriculture sector development was a prerequisite for sustainable economic growth and development, adding that the sector during last financial year contributed about 6.5 per cent to national GDP growth.<\/p>\n
The event was organized by the Ministry of National Food Security and Research, in collaboration with key development partners aimed at promoting and accelerating large-scale olive cultivation in the country to achieve the goal of self-sufficiency in edible oil production.
\nThe minister said that the agricultural products of Pakistan including vegetables, fruits, rice and wheat were unique in taste and aroma and were in high demand, adding that local farmers and exporters could capture the international markets by improving their packaging, labelling and branding.
\nRana Tanveer said that the edible oil import bill was the second largest bill after the import bill of petroleum products, adding that the initiative undertaken to promote and develop olive oil in the country would help in reducing the reliance on imported commodity.
\nThe minister said that the National Olive Gala would also help to highlight the significant progress and potential of edible oil production in Pakistan, besides showcasing the country\u2019s growing capabilities in value addition of olive products.<\/p>\n
He said that the promotion of olive cultivation would provide employment opportunities for rural youth, and create entrepreneurship skills for them by encouraging its value addition, adding the it would also strengthen the government\u2019s efforts to overcome climate-related challenges.
\nThe Minister expressed satisfaction over the progress made in olive cultivation on a commercial scale and said that the country was now able to produce different varieties of olive plants locally, which also helped to reduce the reliance on imported plants.
\nThe minister stressed the urgent need for diversification of the olive sector to produce quality products, adding that the leading financial institutions were now also starting to finance SMEs and the agriculture value-added sector that would enhance the farm income of small growers.
\nThe Minister for National Food Security asked the Pakistan Oil Seed Development Board to expedite efforts to promote the cultivation of oil seeds on marginal land to reduce the import bill of edible oil as well as increase the income of the people of such areas.<\/p>\n
Speaking on the occasion Dr Muhammad Tariq, National Project Director for Pakistan\u2019s Promotion of Olive Cultivation informed that olive output during the current was expected to grow by 22 per cent as compared to the output of the corresponding period of the last year.
\nDuring the current season, olive output is expected to cross 160-180 tons as output in terms of olive fruit and oil had witnessed significant growth of 22 per cent, he said adding that estimation was based on the area under crop cove, which he added could be further increased.
\nAddressing the event Senior Vice President of the National Bank of Pakistan expressed the commitment to ensuring access to finance for olive farmers and said that the bank was providing financial services for the installation of processing units and purchase of plants.<\/p>\n","protected":false},"excerpt":{"rendered":"
Minister for National Food Security and Research Rana Tanveer Hussain on Friday expressed the government\u2019s firm resolve to facilitate oil seed farmers attaining self-sufficiency in edible oil production and reducing imports. Addressing the two-day Grand National Pak-Oilve Gala 2024, the minister said that agriculture sector development was a prerequisite for sustainable economic growth and development, […]<\/p>\n","protected":false},"author":2,"featured_media":423087,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-449149","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n