Chairman Securities and Exchange Commission of Pakistan (SECP), Aamir Khan, said that Pakistan’s agri-tech market has massive potential to flourish on account of the regulators’ receptive attitude toward fintech, high teledensity, internet penetration, and improvements in the electronic payments infrastructure.
He made these remarks at the hybrid conference ‘Agritech: Empowering the Rural Farmers’ that was hosted by the Pakistan Fintech Network and Pakistan Microfinance Network.
Khan noted that overcoming the challenges to the agriculture sector requires its merging with technology, but for that to happen, the domestic market players will have to embark on a journey toward agri-tech by understanding the small farmers’ demands and supporting them to scale up their value chain.
Pakistan’s economy is profoundly dependent on the agricultural sector in terms of generating employment, ensuring food security, and supporting a healthy balance of payment. Some of the key issues in the sector are a lack of access to formal credit, minimal use of technology, and the risks posed by climate change. Khan said Pakistan’s large population and vulnerability to climate change necessitates the use of innovative solutions to ensure the scalability, sustainability, and efficiency of the agri-value chain.
The SECP has made numerous improvements in the regulatory ecosystem by simplifying the establishment of startups and improving access to finance, but it has also opened the door for start-ups...
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