Pakistan has taken on a new and exciting venture, with intentions of importing a certain type of cannabis seed to research on and explore for medical uses and practicalities. The country plans to delve into the CBD market, which is currently worth $25 Billion.
Cannabidiol, the technical name for 'CBD', is known for its many therapeutic uses apart from being recreational popular. The Minister for Science and Technology, Fawad Chaudhry attested to the move on tapping into the CBD market and studying its uses, a day after the Federal Cabinet approved the domestication and commercialisation of medicinal and industrial cannabis, on Tuesday, the 1st of September at Jhelum Herbal Medicine Park.
“CBD compound plays an important role in therapeutical 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,”
Fawad Chaudhry spoke at a Press Conference in Islamabad, clarifying that the Government had approved the license to import non-psychoactive hemp in Pakistan, which is a 'landmark decision', opening many doors for Pakistan as it can enter the huge market, holding a great deal of potential for the country's future.
Elaborating on the uses of CBD, the Minister explained how oil can be cultivated from hemp seeds, leaves can be harnessed for medicinal uses and the stems produce fiber, which is being used around the world as a suitable substitute for cotton, which can be significantly beneficial for Paksitan's textile industry. Fawad Chaudhry also believes that if successfully executed, the CBD industry in Pakistan can generate up to $1 billion over the next 3 years.
So far qualified biologists are observing suitable locations for planting and cultivating the product, with Northern Punjab being a specific area of interest, with the best possible climate to cultivate the product efficiently.