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The economic importance of agriculture has declined since independence, when its share of GDP was ~ 53%. Following the poor harvest of 1993, the government introduced agriculture assistance policies, including increased support prices for many agricultural commodities and expanded availability of agricultural credit.
It is an important crop in the agriculture economy of Pakistan. Rice is an important Kharif crop. In 2019, Pakistan produced 7.5 million tonnes of rice and ranked 10th in the largest rice-producing countries. Guard Basmati Rice is the oldest and most famous brand of Guard Agricultural Research and Services Limited the first private sector ...
Although Pakistan didn't officially launch a First Five-Year Plan, it embarked on various development initiatives during this period. The key focus areas included agriculture, industries, and infrastructure development. At the time of partition of British India by the United Kingdom, Pakistan was a relatively under-developed country. [6]
In the late 1940s, upon its establishment, Pakistan had an agrarian-based economy. Agriculture constituted 53% of the country's GDP in 1947 and slightly increased to 53.2% in 1949–50. With a population of approximately 30 million, including around 6 million residing in urban areas, about 65% of the labor force was engaged in agriculture.
Being a country that has a largely rural and agriculture-based industry, animal husbandry plays an important role in the economy of Pakistan and is a major source of livelihood for many farmers. Between 30 and 35 million people in Pakistan's current labour force are estimated to be engaged in livestock rearing. [1]
Agriculture and livestock also dominate the Baloch economy. Horticultural development is a fairly recent, yet growing phenomenon. Other important economic sectors include fisheries, mining, manufacturing industries, trade and other services being rendered by public and private sector organizations in the province.
The country's economic development is largely dependent on the cotton industry and its related textile sector, and this has given a principal status to cotton in the country. [14] Apart from use in textiles in the form of cotton lint, yarn, thread, cloth, and garments, its seeds are used for oil extraction. [8]
Pakistan is an agricultural country and agriculture is a vital sector of Pakistan's economy. About 65% of people live in rural areas and directly or indirectly relate to profession of agriculture. Agriculture in Pakistan accounts 21% of total GDP in the economy.