Islamabad:The Islamabad Women's Chamber of Commerce and Industry (IWCCI) on Saturday lauded the initiatives of the government to revive the ailing agriculture sector, which is the backbone of the economy.
It also hailed the decision of the Prime Minister Imran Khan to provide relief of Rs40 billion to farmers by abolishing GIDC for fertilizer industry which will reduce the price of urea bag by Rs400.
The government’s move to avoid a further hike in the price of natural gas is good for masses and the economy under the current set of circumstances, said Farida Rashid, President IWCCI.
She said that the revival of the distressed agriculture sector will require a new agriculture policy designed according to the ground realities, necessary amendment in the Seed Act to depress sale of substandard seed, reducing the role of middlemen and loan sharks in the rural economy, and discouraging profiteers and hoarders.
Farida Rashid said that the largest employment providing sector of agriculture is facing serious problems and it has become a threat to the economy and exports mandating an urgent bailout.