ADB mulls granting $150 million to Pakistan for whole sale market in Lahore

ISLAMABAD, Pakistan: The Chief of Asian Development Bank (ADB) for Rural Development and Food Security Dr Akmal Siddiq has said that the bank is considering a proposal to provide a loan to Pakistan to the tune of US$ 150 million for establishment of a state of the art whole sale market in Lahore.

In a meeting with Prime Minister Imran Khan in Islamabad on Wednesday, the ADB Chief said that the Bank has approved a grant of US$ 1 million for promotion of information and communication technology in the agriculture sector, adding that implementation on the project will begin next year.

Dr Akmal Siddiq said that a proposal is being considered to introduce corporate agriculture on a large scale in Kachi Canal.

The prime minister welcomed the Asian Development Bank’s assistance for the development of the agriculture sector in Pakistan, and said that uplift of the agriculture sector especially introducing latest technology in it and providing every possible facility to the farmers is the foremost priority of the government.

Imran Khan said that agriculture is the backbone of the Country’s economy, and practical steps are being taken to enhance agriculture yield.

Furthermore, he said that said that apart from enhancing the production of major crops such as wheat, cotton, rice through use of latest techniques and technology, the government is also giving emphasis on fisheries and other such important sectors.

The prime minister said that the government is also determined to benefit from the Chinese expertise in the agriculture sector.

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