PEARSON PLC ORD 25P  PSON.L 
$1,026.00  $0.5  0.05%  
DIAGEO PLC ORD 28 101/108P  DGE.L 
$2,496.50  $0.5  0.02%  
RECKITT BENCKISER GROUP PLC ORD  RKT.L 
$4,493.00  $85.00  1.93%  
LLOYDS BANKING GROUP PLC ORD 10  LLOY.L 
$59.66  $0.14  0.24%  
MELROSE INDUSTRIES PLC ORD GBP0  MRO.L 
$556.20  $6.80  1.21%  
FRESNILLO PLC ORD USD0.50  FRES.L 
$607.00  $7.00  1.17%  
NATWEST GROUP PLC ORD 107.69P  NWG.L 
$337.50  $2.50  0.74%  
WEIR GROUP PLC ORD 12.5P  WEIR.L 
$1,913.00  $2.00  0.10%  
STANDARD CHARTERED PLC ORD USD0  STAN.L 
$721.40  $3.20  0.44%  
ENDEAVOUR MINING PLC ORD USD0.0  EDV.L 
$1,806.00  $70.00  4.03%  
OCADO GROUP PLC ORD 2P  OCDO.L 
$411.10  $19.70  4.57%  
ANGLO AMERICAN PLC ORD USD0.549  AAL.L 
$2,222.00  $37.50  1.72%  
ASHTEAD GROUP PLC ORD 10P  AHT.L 
$5,242.00  $56.00  1.06%  
SEGRO PLC ORD 10P  SGRO.L 
$901.20  $4.20  0.46%  
BAE SYSTEMS PLC ORD 2.5P  BA.L 
$1,259.50  $12.50  0.98%  
VODAFONE GROUP PLC ORD USD0.20   VOD.L 
$70.44  $0.14  0.20%  
HSBC HOLDINGS PLC ORD $0.50 (UK  HSBA.L 
$663.00  $3.10  0.47%  
GLENCORE PLC ORD USD0.01  GLEN.L 
$433.35  $0.05  0.01%  
ROLLS-ROYCE HOLDINGS PLC ORD SH  RR.L 
$443.90  $16.10  3.50%  
UNITE GROUP PLC ORD 25P  UTG.L 
$922.00  $2.00  0.22%  
ANTOFAGASTA PLC ORD 5P  ANTO.L 
$1,946.00  $33.00  1.73%  
CRODA INTERNATIONAL PLC ORD 10.  CRDA.L 
$4,059.00  $4.00  0.10%  
KINGFISHER PLC ORD 15 5/7P  KGF.L 
$277.50  $0.4  0.14%  
SPIRAX GROUP PLC ORD 26 12/13P  SPX.L 
$8,630.00  $20.00  0.23%  
TAYLOR WIMPEY PLC ORD 1P  TW.L 
$156.60  $0.6  0.38%  
WPP PLC ORD 10P  WPP.L 
$741.40  $8.80  1.17%  
RIO TINTO PLC ORD 10P  RIO.L 
$4,937.50  $65.50  1.34%  
HOWDEN JOINERY GROUP PLC ORD 10  HWDN.L 
$947.50  $12.50  1.34%  
MONDI PLC ORD EUR 0.22  MNDI.L 
$1,554.00  $19.50  1.24%  
HARGREAVES LANSDOWN PLC ORD 0.4  HL.L 
$1,096.00  $9.00  0.81%  
BARRATT DEVELOPMENTS PLC ORD 10  BDEV.L 
$506.60  $11.00  2.22%  

Cannabis Legalization in Pakistan – Will it Take the Economy to New Highs?

by Rahil M
0 comment

Pakistan faces logistical and infrastructural challenges in implementing the regulatory framework and monitoring cannabis cultivation and production.

Pakistan, lately, has been pondering the legalization of cannabis for medicinal and industrial purposes as a likely path to stabilize its economy. The move comes in the midst of a worldwide pattern towards changing cannabis regulations, driven by growing recognition of its medicinal properties and economic benefits.

Background and Regulatory Developments:

The journey towards the legalization of cannabis in Pakistan started with individual accounts of its medicinal benefits. Inspired by personal experiences witnessing the positive impact of CBD oil on family members experiencing sicknesses like Parkinson’s, entrepreneurs like Aamir Dhedhi became advocates for its broader adoption. Dhedhi’s promotion reflected a more extensive feeling within the nation, prompting policymakers to explore the potential of cannabis for economic growth and public health.

In February, Pakistan made a huge stride towards legitimizing cannabis by approving the passage of an ordinance that established the Cannabis Control and Regulatory Authority (CCRA). This regulatory body is entrusted with overseeing the cultivation, extraction, refining, manufacturing, and sale of cannabis derivatives for medical and industrial use.

The foundation of the CCRA mirrors Pakistan’s endeavours to take advantage of the prospering worldwide market for cannabis derivatives, which is projected to reach more than $30 billion by 2027. Unlike tetrahydrocannabinol (THC), the psychoactive compound in cannabis, cannabidiol (CBD) is non-psychoactive and believed to have therapeutic effects, making it quite sought after for medical purposes.

Economic Potential and Opportunities:

Legalizing cannabis can possibly create critical economic advantages for Pakistan. The nation brags a well-established custom cannabis development, especially in the northwestern district, including the territory of Khyber Pakhtunkhwa and portions of Balochistan. These areas are home to thousands of hectares of land where cannabis has been cultivated for centuries.

By legalizing and controlling cannabis development, Pakistan can harness its existing resources and expertise to create a thriving industry. The cultivation, processing, and sale of cannabis derivatives could give a much-needed lift to the nation’s economy, including revenue from exports, foreign investment, and domestic sales.

Besides, legalizing cannabis could open up employment opportunities in country regions where cultivation is prevalent, providing livelihoods for farmers and supporting local economies. Modernizing development strategies and working on the nature of cannabis items could likewise upgrade Pakistan’s competitiveness in the global market.

Challenges and Regulatory Consideration:

However, the path to sanctioning cannabis in Pakistan isn’t without its difficulties. Fawad Chaudhry, a former federal minister and proponent of cannabis legalization, features the significance of timely implementation and international competitiveness. The regulatory framework for the CCRA imposes strict guidelines and penalties to prevent the abuse of cannabis products and ensure compliance with international standards.

One of the key contemplations is the maximum allowable degree of THC in cannabis subsidiaries, set at 0.3 per cent to distinguish medicinal products from recreational use. The regulatory regime also includes provisions for licensing cannabis cultivation and production, with penalties for violations ranging from fines to criminal prosecution.

Moreover, Pakistan faces logistical and infrastructural challenges in implementing the regulatory framework and monitoring cannabis cultivation and production. Ensuring the quality and consistency of cannabis products, particularly for medicinal use, requires vigorous testing and quality control measures.

Future Prospects:

Despite the challenges, the legalization of cannabis holds promise for Pakistan’s economy and public health. By accepting cannabis as a legitimate industry, Pakistan can harness its potential for economic growth while ensuring access to safe and regulated medicinal products.

Going ahead, Pakistan should figure out some harmony between advancing economic turn of events and shielding general well-being and security. Consistent investment in exploration, innovation, and foundation will be fundamental to understanding the maximum capacity of the cannabis business and positioning Pakistan as a central member of the global market.

You may also like

Leave a Comment

Subscribe to Our Newsletters

We are a UK-based business awards firm that specializes in recognizing and celebrating exceptional achievements across various sectors. Our team of experts is dedicated to delivering world-class services, including event management, judging, and award design. With a focus on quality and excellence, we aim to showcase the best of international businesses and inspire future success.

Contact us: [email protected]

© 2022 – The Business Pinnacle. All Right Reserved. Developed by Aapta

The Business Pinnacle