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Stimulate Investment: ‘Agri sector offers enormous potential’

LAHORE: The Punjab Board of Investment and Trade (PBIT), in the pursuit of its mandate to attract investment and promote trade in Punjab, is inter alia engaged in identifying new technologies, inventions and innovations in various economic sectors to boost production and stimulate investment for commercialisation of these technological innovations.

The effort is to abridge the yawning gap and disconnect between research and development and the up-scaling of proven technologies so that higher thresholds of production, efficiency gains and cost-savings could be achieved in the highly competitive market environment.

A spokesman of PBIT while giving details in this regard informed that a mechanized system of Rice Intensification (MSRI) has been developed by private sector which has led to 50 percent water efficiency gains, 20 percent per acre cost savings in inputs and a minimum of 60 percent increase in yield per acre.

The spokesman told that, in this connection, agriculture sector offers enormous potential for technological interventions not only to transform subsistence production system to commercial agriculture but also to induce investment at the value chain level. Thus, it benefits subsistence farmers, progressive farmers and agro-industry in Punjab. Recently, PBIT liaised with the private technology developers in the agriculture sector who have achieved remarkably good results in intensive rice cultivation through a package of input technology, mechanization and best crop management practices.

He further said that the hallmark of the innovation is the development of multiple function agriculture machinery which will help the farmers in securing vertical productivity increase through better land preparation, nursery plantation and fertilization. MSRI technology is guided by motto the ‘more from less’. The process needs less quantity of rice seed due to plastic mulching-only four lbs of seed are sufficient instead of 10 to 16lbs used in conventional rice growing practice.

The spokesman said that huge opportunities for investment are available in the field of agriculture and as such PBIT is endeavoring to act as a catalyst and proactive facilitator to fully harness this potential for the ultimate benefit of the farmers and agro-industrialists. app

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