Pakistan Is Allocating Funds For Medical Cannabis And Hemp Production
Over a year ago, Pakistan’s government approved the creation of a cannabis regulatory agency to oversee the nation’s emerging legal industry. The Cannabis Control and Regulatory Authority Ordinance 2024 resulted in the creation of the Cannabis Control and Regulatory Authority, which reportedly involves a 13-member board of governors, chaired by Pakistan’s Secretary of the Defense Division.
Pakistan’s emerging legal medical cannabis and hemp industries received a boost recently with the announcement that the nation’s government will be allocating a significant amount of public funding, Rs. 1.95 billion, toward medical cannabis and hemp production.
“The project, approved by the Departmental Development Working Party (DDWP) in December 2021, aims to lay the foundation for a regulated and science-driven cannabis industry in Pakistan.” reported Propakistani in its local coverage.
“It includes the development of advanced greenhouses for medical cannabis cultivation, the establishment of a national analytical laboratory to ensure quality and compliance, and the formation of a central authority to oversee industrial hemp and medicinal cannabis activities.” the outlet also reported.
Cannabis industry licenses in Pakistan are expected to be valid for five-year periods, and a maximum harvest threshold of .3% THC will be enforced. Pakistan first approved hemp farming and related industrial processing back in September 2020.
Pakistan’s main exports are currently textiles, cotton, yarn, rice, and leather products. An industry projection from August 2022 estimated that a thriving hemp industry in Pakistan could be worth multiple billions of dollars annually. Many kush cannabis strains originated in the Pakistan region.
At the recent International Cannabis Business Conference in Berlin, leading international cannabis industry economist Beau Whitney, founder of Whitney Economics, estimated that the potential global medical and adult-use cannabis market is roughly $237.8 billion. Mr. Whitney estimated that the value of the global industrial hemp industry could be $456.2 billion.