By Franca Quarneti via El Planteo.
In the context of a meeting of the Standing Committee on Science and Technology of the National Assembly of Pakistan, iShibli Faraz, Minister of Science and Technology, pledged to file a bill for the national regulation of cannabis, before the end of 2021.
The country has a long relationship with cannabis. For example, during the 1960s and 1970s, Pakistan was a must for hippies attracted by the Peshawar hashish market.
However, cannabis was criminalized in 1980, under pressure from U.S. President Ronald Reagan. Pakistani politicians did not change their stance on marijuana until recently.
Meanwhile, hemp production and medical use of cannabis have been legal since September 2020, High Times reported. Lately, the government started to grow hemp for industrial purposes to produce cannabis oil.
In addition, the authorities have already announced the construction of greenhouses in the cities of Lahore, Karachi and Islamabad.
Pakistan could become a valuable exporter of seeds, because it is home to indigenous cannabis strains. With so many projects in the pipeline, it is not surprising that the government intends to formalize this fledgling industry through a legislative framework.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.