Clearing air on corporate farming under SIFC

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Rafia Zahid

 July 14, 2023

Published in: The Nation

Agriculture sector in Pakistan is an embodiment of multiple opportunities and socio-economic advancement. Anchored by vast expanses of fertile land, geo-strategic positioning and a multitude of climatic zones, Pakistan’s agricultural landscape serves as a rich breeding ground for agricultural initiatives. With a variety of resources at its disposal, the agricultural sector has the ability to yield plentiful and bountiful harvests in country. Agricultural sector of Pakistan features a plethora of crops and livestock exhibiting vibrant strands in country’s fabric of agricultural diversification.
Special Investment Facilitation Council (SIFC) will play an indispensable role in promoting corporate farming and the advancement of agricultural modernization. SIFC will offer an array of opportunities and benefits to attract both domestic and foreign investors, keen in establishing large-scale agricultural projects. SIFC aims to augment agricultural productivity, establish job opportunities and boost economic growth in the country by creating a conducive environment for corporate farming. However there are uncorroborated claims, particularly on social media, that corporate farming initiatives under SIFC will result in the sale of land to Gulf countries or that investors from abroad will get crops at cheaper rates and Pakistan will be benefited very little. Such baseless speculations are the outcome of lack of understanding and fear mongering of habitual spoilers. Let’s understand what is corporate farming in the context of SIFC.
Establishing corporate farming in Pakistan has been an imperative step towards modernizing the agricultural sector and enhancing productivity. The venture between Army and government is dedicated towards using barren, uncultivated or under-cultivated land for corporate farming joint ventures. SIFC will provide opportunities to the investors to cultivate on under-cultivated or non-cultivated lands in country while equally sharing the agricultural production on an agreed percentage. By mobilizing both local and international investors, SIFC will create an environment conducive for the proliferation of corporate farming by using modern farming equipment and precision agricultural techniques to optimize crop production in Pakistan.
Modern agriculture techniques and technology will improve profitable crop yield and quality. The influx of foreign investment will generate capital and develop agricultural infrastructure, resulting in improved productivity. There is a common perception that the land will be sold to foreign investors for corporate farming under the umbrella of SIFC. Corporate farming projects are joint ventures for domestic as well as foreign investors. SIFC has set robust standards to recognize the need of safeguarding national resources and ensuring agricultural sovereignty before offering its land for corporate farming. The government will retain ownership of the land while special focus will be kept on guaranteeing that the government’s share of production is utilized for addressing food imports and shortages. While retaining the ownership of agricultural land in this joint venture, Pakistan aims to reduce its dependency on imports, improve food security, and increase self-sufficiency in the country.
Corporate farming is poised to emerge as a transformative force in Pakistan, promoting a paradigm shift in the country’s agricultural environment by opening doors to surplus production. These large-scale agriculture venture will harness the power of the economy to achieve phenomenal revenues, bolstered by substantial local and foreign investments with a special focus on operational excellence. The formation of corporate farming through SIFC will improve Pakistan’s agriculture and economy significantly. It is not a matter of market value for Pakistan, but of guaranteeing the country is food secure and not reliant on imports for needs. Corporate farming will sow the seeds of agricultural prosperity in the country through a strategic amalgamation of innovative technology, effective management practices and optimal resource utilization. The initial focus of SIFC is to ensure a sufficient reduction in imports and once the corporate farming is fully established, Pakistan would be getting surplus produce which then will be exported at market value.
In contemporary world, corporate farming has yielded a positive impact on employment generation and rural development. Under the auspices of SIFC, corporate farming will facilitate the adoption of innovative farming practices, introduction of modern technology, and implementation of research-driven ways to boost agricultural productivity. By fostering a culture of learning and innovation, SIFC will contributes towards an overall development and growth of agricultural sector in Pakistan. The establishment of corporate farming will also generate countless job opportunities particularly in rural areas. From skilled labor in farming operations to administrative roles, employment generation will contribute to socioeconomic growth in rural areas, improving living standards and lowering poverty levels.
It is pertinent to note that the SIFC’s astute strategic foresight and deft maneuvering will result in the establishment of a strong foundation of corporate farming and collaborative synergies for local and foreign investors. The country will expertly coordinate the development of large-scale agro-industrial complexes by using powerful logistical infrastructure, multifaceted skills and extensive organizational outreach. Corporate farming endeavor under SIFC will potentially improve food security, economic growth and job opportunities for the well-being and resilience of the country.

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