Business

Punjab And World Bank to Jointly Work On Rural Development

Punjab Chief Minister Shehbaz Sharif on Friday chaired a special meeting of the joint steering committee of the World Bank and the government of Punjab, to review the proposed protocol for rural development and progress of agriculture sector in Punjab.

A number of proposals prepared under the collaboration regarding improvement of agriculture sector, went under scrutiny and secured formal approval in the meeting. Furthermore, World Bank and Punjab government agreed to join hands to ensure a fast track progress of the agriculture sector be given the necessary attention it deserves.

Addressing the meeting, the Chief Minister said that these steps are imperative to ensure progress in the region. The CM was full of praise for the technical assistance offered by the World Bank for boasting yields, bringing stability in economy, and strategy devised for the management of water resources.

The Chief Minister expressed that this initiative would serve as an opportunity to equip agriculture sector with cutting edge facilities. He hoped that this would bring reforms in wheat trade and save us from the loss the nation faces annually. Moreover, he said that smart market solutions and organized services for farmers would result in better outcomes. In addition, the training programs for females and youth would also help fix many problems in agri business.

Today, more than 5 billion of the total 7 billion world population lives in developing countries. While the global population growth will be important to future food markets, economic growth however will be the ultimate driver of development progress.

Chief Minister Shehbaz added:

“The reformation of agriculture setup at latest trends is the dire need of hour and aid of World Bank who has been a strong partner of government is highly regarded. Roads from farms to markets are highly needed, and Khadim-e-Punjab Rural Roads Program has entered into its 4th phase under which thousand kilometers roads are renovated and constructed which will hopefully boast up our economy and facilitate our farmers for easy transport of their goods.”

It is estimated that by 2050, global per capital income is expected to increase to nearly three times the 2005 limit. While developed world growth continues at less than 2% annually, the pace in developing countries, including Pakistan and India, could exceed 5% per annum. This transition has tremendous implications for global, as well as regional and local agriculture sector.

The Chief Minister stated:

“The international and local seed companies’ cooperation will be expanded in order to escalate involvement of private sector in agriculture research and to provide cultivators with state-of-the-art seed technology. Latest barns will be established to store wheat and World Bank will provide technical assistance for promotion of agriculture and  equitable usage of water resources.”

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