According to the science and technology minister, Fawad Chaudhry, the Cannabidiol (CBD) and hemp based products market is worth over $25 Billion. His ministry is keen to utilize that fact by importing a particular variety of seeds that will undergo research for industrial and medicinal use. This comes right after the federal cabinet approved its first of a kind license for non-psychoactive hemp on Tuesday. Talking to reporters with three experts beside him, the science and technology minister said, “CBD compound plays an important role in therapeutic medicine and after 2016 a breakthrough research was unveiled which prompted China to set up a cannabis research department and is now cultivating hemp on 40,000 acres, and Canada is cultivating it on 100,000 acres.”
Cabinet has approved first License for @MinistryofST and PCSIR for industrial and medical use of Hemp, landmark decision ll place Pakistan in billions of USD CBD market…..
— Ch Fawad Hussain (@fawadchaudhry) September 1, 2020
The three experts will lead this initiative. Under this project, Pakistan will soon grow and cultivate hemp which will be used to produce tetrahydrocannabinol at 0.3% and below. Growing it above the designated rate would be illegal and so its cultivation will be kept under tight watch by the ministry of narcotics.
Science Minister Chaudhry Fawad Hussain further spoke at the conference about the benefits of the plant overall. He said that “hemp seeds are used for producing oil, leaves for developing medication, while stems are used for fibers which are gradually replacing cotton in the textile industry.” He concluded by saying, “worldwide this fiber is replacing cotton. Clothes, bags, and other textile products are being made using this plant’s fiber. This is a $25 billion market and Pakistan can take a big share in this market.”