Pakistan has decided to lend 700, 000 acres (283,500 hectares) of farmland to Arab countries on the basis of long-term investment, local media reported Wednesday, Xinhua reported.
An official of the Pakistani ministry of investment said the decision has been taken keeping in view the interest of Arab countries in agriculture land of east Pakistan's Punjab and south Pakistan's Sindh.
The Pakistani government is also working to remove reservations of persons associated with agriculture sector, the official said.
Investment Minister Waqar Ahmed Khan said that the government will successfully achieve its objectives and it will pave the way to get the latest technology for agriculture sector in the country.
Over the past few weeks the Saudi government has been in talks with Pakistan to lease 700,000 acres of farmland, said Tauqir Ahmad Faiq, the regional secretary at the ministry of agriculture.
The land Pakistan will provide Saudi Arabia will be divided among the four provinces and they will be using it to grow a variety of produce such as wheat, fruits and vegetables, Faiq said.
A Saudi delegation is expected to visit Pakistan after the month of Ramazan to further discuss the deal and see the land, but there is no set date when the deal will be signed, he said.
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