As basmati prices fall, subsidy to farmers mulled

PM asks ministries to formulate plan within six weeks.

ISLAMABAD: Prime Minister Muhammad Nawaz Sharif has said that agriculture is the backbone of the country’s economy and the government is taking steps to provide support to this sector, an official handout stated.

He was chairing a meeting regarding procurement of basmati rice at the PM’s House here today.

Sharif expressed concern over the falling price of basmati rice due to international factors and directed the Ministries of Finance and Food Security to submit a proposal for providing support to the grower by providing suitable subsidy.

He asked the Ministry of Food Security to consult provincial governments and develop a system so that direct benefit of the subsidy goes to the grower and not the middleman.

The prime minister directed the ministries to come up with a plan within six weeks through which cost of agricultural inputs can be brought down to make the grower comfortable in the local market and competitive in the international market.

He also directed to submit a proposal regarding provision of solar panels on soft loans for installation of tube-wells for agriculture sector.

Federal Minister for Finance, Muhammad Ishaq Dar; Federal Minister for National Food Security, Sikandar Hayat Bosan, Special Assistant to the PM, Dr Musadik Malik; Secretary National Food Security and Secretary Commerce attended the meeting along with other senior government officials.

Published in The Express Tribune, November 20^th, 2014.

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