LAHORE: 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 a
grarian economies could potentially increase farm incomes by up to 200pc effectively as well as improved livelihoods for millions of farmers and households.