Govt Mulling Policy To Reduce Palm Oil Imports

ISLAMABAD: The government is working on a policy that will not only reduce dependence on imported palm oil but also facilitate and support farmers to grow oilseed crops, Minister for National Food Security and Research, Tariq Bashir Cheema, said on Tuesday.

At a press conference, Mr Cheema said the government has decided to take short- to long-term policy measures for the uplift of the agriculture sector, focusing on encouraging the farming community to bring more area under cultivation with the ultimate objective of achieving self-sufficiency in all the major crops and reducing the country’s import bill for certain agricultural products.

The country is currently spending $4.5 billion annually on the import of palm oil, and it is expected that the import bill for this commodity will increase to $6bn next year.

Retrieved from:https://www.dawn.com/news/1698469