Minister says after the successful cultivation of Hemp crops, we will introduce another milestone project for Scorpion farming which would also be helpful in increasing exports.
ISLAMABAD: Pakistan’s Federal Minister for Science and Technology Senator Shibli Faraz has claimed hemp production and its exports would touch to $5 billion in a few years.
Talking to a private news channel, Shibli said that within the next one year ‘Hemp crops’ would prove a game-changer for Pakistan’s economy, adding, in the next three years 3 to 4 percent market approach would get its targets.
Hemp production would take place under new legislation that facilitates exports for the emerging hemp and medicinal cannabis industries, he added.
Shibli said that with the export of ‘Hemp’ the fiber import would be replaced, adding, through the usage of hemp in textile and medicinal the earning of export would reach high.
He further explained that the industrial hemp plant contains a compound called cannabis, which would “play a very important role” in medical therapies meant to mitigate severe and chronic pain.
He noted that several countries including the USA, Canada, and Australia were cultivating hemp on tens of thousands of acres and getting benefits from its crops.
Shibli said ‘National Hemp policy ‘ was getting locally and internationally over welcoming response, which would move the country forward economically.
“The hemp market to generate billion of the dollar in revenues for Pakistan in the next coming years,” he said, adding, with the collaboration of all stakeholders the policy documents were prepared.
Shibli Faraz also expressed his gratitude over the successful first legal crop of Bhang (hemp) which is ready for harvesting. He said that government wants agricultural industry to be able to capitalize on the opportunities that flow from growth in our regions and globally.
He said that Hemp production would be more beneficial than drugs, adding, Hemp is a type of cannabis plant, used commonly for medicinal purposes due to its cannabidiol (CBD) concentration.
Replying to a question, he said that after the successful cultivation process of Hemp crops we will introduce another milestone project for Scorpion farming in the country which would also be helpful in increasing the export of the country.
“Scorpion plantation and production will help diversify our exports to the international market as well,” Faraz added.