The government of Pakistan has recently been posting facts for the outgoing fiscal year 2020-21. Keeping this in view, the Government took to Twitter to post Agriculture sector statistics. The post read, “Agriculture-friendly policies of Government bear fruit. Record production of Sugarcane, Rice, Maize & Wheat in FY21.”
Agriculture-friendly policies of Government bear fruit. Record production of Sugarcane, Rice, Maize & Wheat in FY21. pic.twitter.com/ktbBuOMkqH
— Government of Pakistan (@GovtofPakistan) June 8, 2021
According to the statistics, the historic yield increased 13.6 percent in FY21 Year-on-Year (YoY) reaching an output of 8.419 million metric tons (MMT) compared to 7.414 MMT in fiscal year 2020.
Similarly, according to the statistics, the Maize production in the fiscal year 2021 reached 8.465 MMT, showing an increase of 7.4 percent from 7.883 MMT in the fiscal year 2020.
The post showed that the agriculture-friendly policies of the incumbent government resulted in an 8.1 percent increase in wheat production in the fiscal year 2021. The wheat production in the outgoing fiscal year came to be 27.293 million metric tons against 25.249 MMT in the fiscal year 2020.
The last crop mentioned in the statistics was sugarcane, which according to the government showed an increase of 22 percent YoY in FY21. The production reached 81.009 MMT compared to 66.380 MMT in FY20.
Other than the mentioned cash crops of Pakistan, the government also mentioned growth in Pulse (Daal Moong) yield, due to agriculture-friendly policy. According to the statistics, the yield increased 60 percent reaching 0.202 MMT in FY21 compared to the 0.126MMT in FY20.
In the last agriculture-related statistics government also mentioned the growth in yield of onions by 8.60 percent in the fiscal year 2021 compared to the last fiscal year. According to the figures mentioned, the outgoing fiscal saw a yield of 2.304 MMT, up from 2.12 MMT in 2020.
Recently, the leading American Magazine, Forbes has acknowledged Pakistan’s prudent policies to keep the economy stable during the Corona Crisis, with the possibility of a 4% increase in domestic production.
The magazine said, “Even giants like the United States and India have had difficulty dealing with the coronavirus pandemic. Donald Trump, Dwayne Johnson, and Ellen DeGeneres have all been infected by this virus. In this situation, Pakistan has succeeded in reviving its economy, which is expected to grow by nearly 4% in 2021, exceeding initial projections.”
According to the American magazine, Pakistan was successful in converting a $19 billion current account deficit into a $900 million surplus, as well as more than doubling the country’s foreign reserves from $7.2 billion to $16 billion.