Pakistan is on the right track for launching new agricultural- and industrial export businesses related to cannabis and its products. The cannabis plant has now become a global trillion-dollar industry. However, the government is taking too long to issue licences for this industry. It needs to realise that expediting licences for the cannabis industry will usher in new indoor farming in Pakistan. The government should also allow tax-free import of machinery by cannabis-related businesses during their first five years of operation as cannabis extraction requires expensive, sophisticated and specialised equipment.
Foreign investment must also be encouraged in this sector but only in partnership with local operators and a simplified, low-tax regime would also help. By allowing cannabis companies to be set up in Pakistan, the government will be able to generate more than a billion dollars worth of exports each year and create many new jobs.
Engr Shahryar Khan Baseer
Islamabad
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