PARC approves Rs 3.986 billion budget to bolster agri sector

STAFF REPORT ISB: A budget of Rs 3.986 billion is approved for the year 2015-16 to improve agricultural research and food security in the country. The budget was sanctioned by Board of Governors (BoG) of Pakistan Agricultural Research Council (PARC)during their 39th meeting .

The meeting was presided over by Federal Minister for National Food Security and Research (MNFSandR). The breakdown of the budget reveals that Rs 2.63 billion is allocated for non-development funds while the remaining Rs 1.3 billion is assigned for development projects.

In addition, the BoG also recommended an additional budget of Rs150.6 million for post budgetary increases in pension, rental ceiling and vacant posts.

The food security experts, policy makers were present on the occasion that hailed the allocation of budget and emphasized on appropriate utilization while ensuring transparency in order to foster the objective of attaining the food security and availability of food to all.

The share of agriculture sector in GDP is around 21% and investing in agriculture and food sector can certainly uplift the national economy of Pakistan and also in meeting core sustainable development goals (SDGs).

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