Monday, January 30, 2023

Growth In Agriculture Sector Key To Reduce Poverty: Shahzad Malik - UrduPoint News

Last updated Sunday, January 22, 2023 03:05 ET , Source: TopWireNews

ISLAMABAD, (UrduPoint / Pakistan Point News - 22nd Jan, 2023 ) :Chairman Pakistan Hi Tech Hybrid Seed Association ( PHHSA) Shahzad Ali Malik Sunday said growth in the agriculture sector is two to four times more effective in raising incomes among the poorest compared to other sectors.
Talking to a delegation of progressive farmers led by Shoukat Ali Arain from Mamukanjan, district Toba Tek Singh, he said agriculture is considered as the backbone of the economy as it forms the basis for food and nutrition security and provides raw materials for industrialization.
He said agriculture is also crucial to economic growth, accounting for 4% of global gross domestic product (GDP) and in some least developing countries, it can account for more than 25 percent.
He said agriculture can help reduce poverty, raise incomes and improve food security for 80% of the world's poor, who live in rural areas and work mainly in farming.
He said value addition to the agricultural produce implies that more income is generated from agriculture which contributes to lower levels of poverty in rural areas. He said lower poverty rates in rural territories are also associated with more production and income diversification and with more market-oriented economies.
He said Pakistan's agriculture sector plays a central role in the economy as it contributes 18.9 percent to GDP and absorbs 42.3 percent of labour force. It is also an important source of foreign exchange earnings and stimulates growth in...

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