Islamabad: Pakistan Economy Watch has said that kharif crop will hit major industrial sectors of Pakistan. Hike in price of diesel will discourage use of eighty per cent tube wells. Government should take steps to check artificial price hike before announcing domestic wheat procurement price.
India returning favours by conspiring against Pakistan
Dr. Murtaza Mughal, President, Pakistan Economy Watch on Wednesday said that Pakistan’s trade policy is India centric and New Delhi is returning favours by reducing our water to hit the crops. “India is reinforcing the belief that ‘bania’ cannot be a friend and should not be trusted under any circumstances,” he said.
Speaking at a meeting, he said the kharif crop could be a shock for the major revenue and forex earning textile sector which is also major employment provider. Similarly, it will also hit sugar industry.
There two sectors depend on kharif crop for their major input which may slide due to scarcity of water, seeds, urea, pesticides, load shedding, expenses of electricity and prices of diesel. The unending disputes of payment between farmers and cane millers and outstanding dues since years have pushed many farmers to switch to other crops.
Cotton cultivation has dropped by ten per cent which is to result in slide of ten million bales while a good number of sugarcane growers have switched to rice etc.
Government should immediately import five to six hundred thousand tonnes of sugar to stabilize prices, said Dr. Murtaza Mughal.
Diesel prices to discourage use of 80 pc tube wells; masses robbed of more than 5 billion
He said that government is all set to announce new support prices for wheat but it will also encourage hoarders. Therefore, he said, steps should be taken to arrest artificial price hike before any such announcement.
He recalled that Asif Zardari, after taking oath, said that he would arrest rocketing prices of food by over supply and CM Punjab on the very next day announced a target of twenty lack tonnes for wheat.
Both leaders had not divulged any details of their plans which have convinced many to take it as another political statement as the current political and atmospheric condition is not very favourable.
Steps to contain artificial shortage needed before announcing wheat support price
Dr. Murtaza Mughal said that hike in price of diesel has minimised chances for farmers to use tube wells due to non-availability of water. The recent petroleum decision will gave masses a relief of 75 million per month but would be robbed of Rs 5 billion at the same time. Majority of farmers are not in position to buy a bag of DAP at Rs 3500 and fake pesticides are also waiting to play havoc with them.