Pakistan has set the target to increase its horticulture exports to $1 billion by 2012 from the current figure of $150 million per annum.
This was decided in the first meeting of the Implementation Committee of the Task Force on Finance and Competitiveness of the Horticulture held here on Thursday.
The meeting was chaired by Secretary Ministry of Food, Agriculture and Livestock (MINFAL) Zia-ur-Rehman.
The Secretary MINFAL in his opening remarks told the members of the implementation committee that the primary objective of this initiative is to identify the potential investment areas, where Pakistan can attract large foreign companies for joint ventures in the horticulture sector and also to identify innovative projects which CSF can assist through its matching grant window.
He informed the members that Pakistan should target $1 billion from the horticulture exports by 2012 from the current exports of $150 million.
The meeting was attended by the representatives of the various relevant agri-business marketing institutions.
The Implementation Committee has also established operational sub-committees that would generate specific action items and work to coordinate the work already being undertaken by government line agencies, projects and the private sector.
These sub-committees are to analyze the current situation in the horticulture industry and report back to the Task Force.
The Senior Advisor to the Competitiveness Support Fund (CSF) made a presentation to the members of the implementation committee on the working of the sub-committees and informed the members that the objective of the Implementation Committee is to provide the Task Force for Horticulture Finance and Competitiveness with recommendations for a clear management and financial structure for the industry in the context of coherent, well-planned and well- coordinated studies, research activities, regulations, policies, strategies and interventions.
Speaking on the occasion, Arthur Bayhan, Chief Executive Officer of the CSF briefed the members of the implementation committee about the new methods used in several emerging market economies to promote financing and competitiveness of the sectors that have potential to grow.
The Ministry of Finance established the Task Force for Horticulture Finance and Competitiveness (TFHFC) early this month to bring the stakeholders together on one platform.
It also decided that to move a summary thorough the Board of Investment to declare the horticulture sector as a recognized industry.