Punjab contributes largely to agricultural growth
Sector posts growth of 1.2% in fiscal 2011 against previous year’s 0.6%: SBP.
KARACHI:
Despite devastating floods in July last year, the growth of 1.2 per cent, though not quite high, in the agricultural sector in fiscal year 2010-11 is encouraging for the economy when compared with negligible growth of 0.6 per cent in the previous year, say experts.
The growth figure came in the annual report on state of economy in 2010-11 released by the State Bank of Pakistan (SBP) on Monday.
JS Global Capital Limited economist Muzammil Aslam said the agricultural growth, which seemed more dependent on livestock and less on crops, was not bad.
“Since the agricultural sector is less dependent on the performance of power companies, it has not been affected much by the power crisis. However, the sharp decline in the manufacturing sector is mainly the result of the crippling power shortages,” he said.
Sindh Abadgar Board Vice-President Nadeem Shah said considering the effect of last year’s floods, the agricultural sector growth was not bad.
He said the overall performance of the sector remained positive because of handsome crops in Punjab. However, Sindh, which was badly ravaged by the floods, did not perform well as floodwater remained stagnant on vast agricultural fields for months.
Shah said the government should help farmers increase production of wheat and sugarcane this year, adding output could fall significantly because of 100 per cent increase in fertiliser prices over the last few months.
Shah himself used just 60 bags (50kg per bag) of di-ammonium phosphate on his 400 acres of land compared to 400 bags last year due to high prices.
Published in The Express Tribune, December 20th, 2011.
Despite devastating floods in July last year, the growth of 1.2 per cent, though not quite high, in the agricultural sector in fiscal year 2010-11 is encouraging for the economy when compared with negligible growth of 0.6 per cent in the previous year, say experts.
The growth figure came in the annual report on state of economy in 2010-11 released by the State Bank of Pakistan (SBP) on Monday.
JS Global Capital Limited economist Muzammil Aslam said the agricultural growth, which seemed more dependent on livestock and less on crops, was not bad.
“Since the agricultural sector is less dependent on the performance of power companies, it has not been affected much by the power crisis. However, the sharp decline in the manufacturing sector is mainly the result of the crippling power shortages,” he said.
Sindh Abadgar Board Vice-President Nadeem Shah said considering the effect of last year’s floods, the agricultural sector growth was not bad.
He said the overall performance of the sector remained positive because of handsome crops in Punjab. However, Sindh, which was badly ravaged by the floods, did not perform well as floodwater remained stagnant on vast agricultural fields for months.
Shah said the government should help farmers increase production of wheat and sugarcane this year, adding output could fall significantly because of 100 per cent increase in fertiliser prices over the last few months.
Shah himself used just 60 bags (50kg per bag) of di-ammonium phosphate on his 400 acres of land compared to 400 bags last year due to high prices.
Published in The Express Tribune, December 20th, 2011.