Barren reforms
PRIME Minister Shehbaz Sharif’s assertion that agriculture and livestock hold the key to Pakistan’s quick economic revival is spot-on. The sector contributes almost a quarter of GDP, employs well over a third of the labour force and remains the largest source of livelihoods. Livestock alone accounts for more than 60pc of agriculture’s value addition, while Pakistan ranks among the world’s largest milk producers, and possesses considerable untapped potential in both milk and meat exports. Few sectors offer comparable opportunities to generate growth, reduce poverty, improve food security and earn foreign exchange simultaneously. But the PM’s declaration that the economy can be revived within a year through agriculture highlights the gap between ambition and policy execution. The agricultural crisis has never been about the absence of potential. It is the consequence of decades of policy neglect and inconsistency, institutional decay and distorted incentives. ...