Agriculture is backbone of economy: PM.

ISLAMABAD -- Prime Minister (PM) Imran Khan said that agriculture is the lifeblood of Pakistan's economy because it contributes about 18.5% to GDP, provides livelihood to 64% rural inhabitants and employs 38.5% of the total national labour force.

The sector has direct and indirect linkages with other sectors of the economy and plays a significant role in socio-economic development of the country. Talking to noted industrialist cum agriculturist and reformist Khawaja Jalal-ud-Din Roomi at Bani Gala, the PM said, 'We have turned the flow of development funds towards South Punjab which had been neglected during last seven decades.

On this occasion, Khawaja Jalal-ud-Din Roomi said Pakistan was not immune to the economic shock caused by the coronavirus, and its exports have been hit hard but the present government's four actions to speed up Pakistan's export recovery had miracled i.e. considerable cut in policy rate, subsidised rates of electricity and gas, ending power load-shedding and issuance of soft loans for revival of industry and an increase in foreign remittances had strengthen the foreign exchange reserves which had surpassed the US $13 billion.

Roomi urged the business community to take part in Prime Minister's Housing Programme whole heartedly so that negative impact on Pakistan's economy could be removed. Upon this the PM said the COVID-19 pandemic has brought in massive changes in the ways we interact, consume, and produce. Last May, the country recorded US $1.39 billion in merchandise exports, the lowest number in years and a 34 percent drop from a year ago. But now, demand of our products was increasing day by day and our export sector was operational round the clock.

Business community urged to take part in Prime Minister's Housing Programme whole heartedly

Roomi said that it is voice of the hour that we have to introduce zoning of crop and strictly implementing the zoning criteria according to the agricultural vision of the PM because neglecting and violating the zoning had badly hit cotton crop. He said that cotton crop played an important role in national economy. He expressed concern over the gap between cotton production in different parts of the country and regretted that the area was neglected by previous governments in terms of new seed harvesting, promotion of technology, adaptation of modern farming techniques and financial assistance to farmers.

He noted that apathy towards cotton cultivation not only resulted in...