Government of Sindh prepares strategy to strengthen commodity value chain: Naheed Memon

Karachi, October 05, 2016 (PPI-OT): Sindh Government has devised a strategy to develop trading of agriculture produce on modern lines by utilizing Pakistan Mercantile Exchange’s (PMEX) e-trading platform. PMEX’s trading platform will provide a chance to grower/ farmer to access premium local markets/ buyers as well as to international markets. GoS is making consistent efforts to transform conventional agri-practices in Sindh, this is a milestone in this direction to give farmers/ growers access to wider market base.

Trading through e-platform will expedite the process for growers to get the right price for their produce within a stipulated time of 72 hours. With an aim to provide benefits directly to the growers GoS has decided to subsidize the PMEX trading fee for two seasons through Sindh Enterprise Development Fund (SEDF), said Chairperson Sindh Board of Investment (SBI), Ms. Naheed Memon. The Chairperson SBI further said this while chairing a meeting to finalize the strategy in this regard at her office here on Tuesday.

She further said, this will be a game changer for agri-trading practices in Sindh and GoS has plans to replicate the scheme to other commodities. As a pilot project for two years, six thousand tonnes of red chilli will be traded annually through Pakistan Mercantile Exchange’s E-trading platform. Sindh Enterprise Development Fund will subsidize the trading fee of Rs 2.5 per kilogram for growers/ aggregators against ‘warehouse receipts’.

GoS will provide aggregate subsidy of Rs. 30 million to sustenance growers over the period of two years. This initiative will provide right price in a timely manner to the farmers/ growers, enabling them to invest it timely for other crops. Premium pricing mechanism will enable growers to invest more through quality inputs e.g. pesticides etc.

She said, GoS has encouraged the linkage between the different stakeholders in the market and promoted a unique idea of trading red chilli through e-trading platform and GoS will promote these kind of ideas to promote/ transform conventional agri-practices in Sindh.

For more information, contact:
Information and Archives Department
Directorate of Press Information
Government of Sindh
95-Sindh Secretariat 4-B, Karachi
Tel: +92-21-99204423, +92-21-99204401