It is excellent news that KP Government has decided to issue licences for cannabis and hemp cultivation in the province, giving rise to businesses and exports. Other provinces should also implement similar regulations. With more authorities to issue licences, we can quickly establish a thriving cannabis and hemp industry. Now is especially the time to establish a cannabis and hemp farming and oil extraction industry as the cannabis industry has been deregulated worldwide.
With the ever-increasing demand for oils derived from these plants in the US and EU, and with a fixed supply of plants in these countries, establishing such a business would prove to be fruitful. Since many countries already have an existing hemp industry, the prices of its oil have reduced, but cannabis has only recently been deregulated. Many countries have not yet fully established its industry; therefore, Pakistan has a great window of opportunity to establish exports of cannabis oil.
The industry will also promote advanced agricultural technologies and advanced extraction technologies, and help create thousands of jobs. The government must issue these licences without delay so that any current economic opportunities may not be missed.
Shahryar Khan Baseer
Islamabad
