Finance Minister Ishaq Dar has said that the incumbent Pakistan Muslim League-Nawaz government has given due priority to the agriculture sector in the budget for the fiscal year 2016-17.
He stated this while chairing a meeting to discuss the modalities for the implementation of relief measures for the agriculture sector announced in the budget 2016-17. Federal minister for national food security and research, provincial finance and agriculture ministers of Punjab and Sindh and senior officials of relevant ministries attended the meeting.
Ishaq Dar hoped that the measures announced by the federal government will be complemented by the provincial governments with a view to ensure that the decline in agricultural growth is reversed and that the sector achieves a healthy growth rate in accordance with its potential.
He referred to the decrease in fertiliser prices by the industry and stated that it was made possible after lengthy negotiations with the manufacturers. He urged the provincial governments to continue with a spirit of cooperation for the promotion of the vital agriculture sector.
The provincial ministers welcomed the measures announced by the federal government and stated that the provincial governments were equally keen to provide support to the farmers who had been facing a difficult situation due to falling commodity prices and high costs of inputs.
The meeting discussed in detail the subsidy on fertilizers announced in the budget and the mechanism for its disbursement. The detailed modalities in this regard were discussed and agreed. It was decided that the subsidy would be provided through a joint federal & provincial package for farmers. The meeting also discussed other agriculture related measures and decided to continue close liaison and coordination for country wide impact on the agriculture sector.