ISLAMABAD, Dec 24: The Federal Ministry of Food, Agriculture and Livestock (Minfal) has opposed a demand of private sector to declare horticulture an “industry”.

Minfal has declined the demand on the grounds that being a part of the agriculture sector, Pakistan’s horticulture was enjoying more incentives that might not be available once the sub-sector was given the status of industry.

According to the Pakistan Horticulture, Development and Export Board (PHDEB), the federal agriculture ministry announced its decision in this regard in a recent meeting of the Agriculture Advisory Board held under the chairmanship of Secretary, Board of Investment (BOI), Mushataq Malik.

The private sector had also asked for 10 to20 year tax holiday for those who wanted to invest in corporate farming.

The newly constituted advisory board had been assigned to hold policy dialogue between investors from the private sector and government officials from ministries concerned on hurdles encountered by the agriculture sector and investment opportunities.The private sector was represented by Engro Chemicals, Makro Habib, National Foods Limited, Nestle Milkpak, Rafhan Foods, Shezan International, Pakistan Business Council and some agriculturists.

During the last three years, Pakistan’s agriculture sector has been growing at an average 4.5 per cent annually.

Agriculture needs more investment and increase in production to support and sustain the six to eight per cent annual growth of the country’s Gross Domestic Product (GDP).