MULTAN, Oct 15 (APP): Fisheries Department South Punjab is embarking on an ambitious initiative to harness the region’s immense potential for shrimp farming.
With the ideal combination of fertile soil and brackish water, this endeavor holds the promise of not only elevating the living standards of local farmers but also contributing to addressing food security challenges in the country. According to official sources, shrimp farming holds immense profitability. Farmers can expect to earn nearly Rs one million per acre, a substantial source of income that could transform their livelihoods.
The government is taking proactive measures to promote shrimp farming in the region, with a significant financial commitment to back the initiative. A total of Rs 3,428 million is being invested to create awareness among farmers and develop the necessary infrastructure to support shrimp farming. Notably, this venture is a collaborative effort between the federal and Punjab governments, with the federal government contributing 20 percent and the Punjab government bearing 80 percent of the financial burden.
To facilitate the growth of the shrimp farming industry, two hatcheries, two feed mills, and two processing plants are being developed. These facilities will serve as essential components of the burgeoning industry, contributing to its overall success.
The officials emphasized that the government was actively engaged in motivating farmers to participate in shrimp farming, setting an ambitious target of cultivating shrimps on 7,200 acres of land. This initiative aligns with the broader goals of enhancing food security and creating new economic opportunities for the local population.
Responding to inquiries about financial barriers, the officials revealed that the government was offering a 50 percent subsidy to farmers, which significantly eases the financial burden of starting a shrimp farming venture. With the remaining 50 percent of the capital required for investment, farmers are encouraged to join actively in this potentially lucrative industry.
Furthermore, the value-added aspect of shrimp farming and its potential for export can play a pivotal role in bolstering the country’s foreign exchange reserves. This innovative project not only has the capacity to transform the lives of South Punjab’s farmers but also to enhance food security and contribute to the nation’s economic well-being.
The future of shrimp farming in South Punjab appears promising, as the government’s proactive measures and investments set the stage for a thriving and sustainable industry that will bring prosperity to the region and make a significant impact on food security in the country, officials conclude.
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