Daily Times

The Pakistan Business Forum (PBF) has demanded the government to reduce agriculture tube-well tariff similar to the recent reduction announced for the industrial sector. In a letter written to the government, PBF President Khawaja Mehboobur Rehman said he would like to commend the PM’s recent decision to reduce electricity tariff for the industrial sector, said a press release issued here on Tuesday. The agriculture sector was the key performer in the fiscal year 2023-24, contributing significantly to the country’s GDP, he said and added that reducing the agriculture tube-well tariff would greatly benefit the sector and the economy as a whole. Reduction in tariff would help farmers and the agriculture industry to increase productivity and efficiency, reduce costs and improve profitability, enhance food security and self-sufficiency and contribute more significantly to the country’s economic growth, he added. The PBF president said the widespread adoption of new technologies in developing agrarian economies could potentially increase farm incomes by up to 200pc effectively as well as improved livelihoods for millions of farmers and households.