The government of Pakistan has decided to permit the commercial cultivation of Hemp starting from January 2025. This decision is aimed at tapping into the vast global market for hemp products, which is estimated to be worth billions of dollars.
The announcement was made by officials from the Pakistan Council of Scientific and Industrial Research (PCSIR) during a meeting of the senate standing committee on science and technology. According to the officials, Pakistan can earn up to $5-7 billion in foreign exchange by exporting hemp products.
Currently, Pakistan has a hemp cultivation industry worth $5 billion, but it has not been properly utilized. To regulate the industry, the government has approved the establishment of the Cannabis Control and Regulatory Authority (CCRA), which will be chaired by the Defense Secretary and include representatives from various ministries and law enforcement agencies.
“The global market for hemp is vast, with over 50 countries using it in the pharmaceutical industry,” said a PCSIR official. “Pakistan has already started cultivating hemp on a two-acre area at the Barani Agricultural University, and research and development projects have produced various products from hemp.”
The official also revealed that Pakistan’s hemp products are being exported to other countries, including the United States, which offers tax exemptions on hemp imports.
The CCRA will be responsible for issuing licenses for commercial hemp cultivation and ensuring regulated cultivation and processing of the crop, with the aim of capitalizing on the lucrative global market.
This move by the Pakistani government is expected to create new economic opportunities and position the country as a key player in the rapidly growing hemp industry.
