Problem of food security will become more serious: Mian Zahid Hussain.

Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on December 16 said a huge amount of cotton and food items will have to be imported due to the flood damages.

The imports will strain forex reserves and the current account deficit will cross the target of ten billion dollars.

Mian Zahid Hussain said that in the current situation the problem of food security will become more serious due to lack of resources with the government.

Talking to the business community, the veteran business leader said that due to floods and other reasons, cotton production has decreased by 40%, while rice production has decreased by 10% compared to last year.

He said that wheat cultivation has become impossible in various areas of Sindh due to floodwater due to which wheat production will be affected.

Textile and rice exports will be affected which will also damage export earnings exuberating the dollar crisis in the country, he added.

Mian Zahid Hussain said that falling prices of oil and other commodities may give some support to the country's treasury, but it is not certain.

He noted that the agricultural sector is suffering from the lack of attention of the authorities, wrong policies, non-provision of credit, costly inputs, climate change, weak infrastructure...