Federal cabinet approves first license for industrial, medical use of hemp

A stand showcasing cannabidiol (CBD) oil products at the Department of Development of Thai Traditional and Alternative Medicine in Bangkok on Jan. 6, 2020. (AFP/File)
Short Url
Updated 01 September 2020
Follow

Federal cabinet approves first license for industrial, medical use of hemp

  • The license will be issued to the Ministry of Science and Technology and Pakistan Council of Scientific and Industrial Research
  • Since cannabis is illegal in much of the world, the legal status of cannabis-derived compounds is not always certain

ISLAMABAD: Federal Minister for Science and Technology Fawad Hussain Chaudhry announced on Tuesday that the cabinet had approved the first license for industrial and medical use of hemp, a specific variety of cannabis plant. 

Hemp is used to extract a compound called CBD or Cannabidiol that is widely used for medical and therapeutic purposes. Since cannabis is illegal in much of the world, however, the legal status of CBD is not always certain either.
The European Union allows the sale of CBD in most of its member states under strict regulations.
The Food and Drug Administration (FDA) in the United States says on its website that it “recognizes the potential opportunities that cannabis or cannabis-derived compounds may offer and acknowledges the significant interest in these possibilities.”
However, the FDA “is aware that some companies are marketing products containing cannabis and cannabis-derived compounds in ways that violate the Federal Food, Drug and Cosmetic Act (FD&C Act) and that may put the health and safety of consumers at risk.”
The website adds that the agency is “committed to protecting the public health while also taking steps to improve the efficiency of regulatory pathways for the lawful marketing of appropriate cannabis and cannabis-derived products.”
In Pakistan, a large number of people prefer herbal and traditional medical treatments to more advanced scientific ones since they assume that herbal cures do not have side effects.
Many of these individuals also use CBD that is usually extracted at home.
With the federal cabinet’s decision to allow the Ministry of Science and Technology and the Pakistan Council of Scientific and Industrial Research (PCSIR) to carry out the activity under license, people favoring herbal medicines might benefit from the decision, though the science minister did not give further details in his Twitter post.


Pakistan says repaid over $13.06 billion domestic debt early in last 14 months

Updated 5 sec ago
Follow

Pakistan says repaid over $13.06 billion domestic debt early in last 14 months

  • Finance adviser says repayment shows “decisive shift” toward fiscal discipline, responsible economic management
  • Says Pakistan’s total public debt has declined from over $286.6 billion in June 2025 to $284.7 billion in November 2025

KARACHI: Pakistan has repaid Rs3,650 billion [$13.06 billion] in domestic debt before time during the last 14 months, Adviser to the Finance Minister Khurram Schehzad said on Thursday, adding that the achievement reflected a shift in the country’s approach toward fiscal discipline. 

Schehzad said Pakistan has been repaying its debt before maturity, owed to the market as well as the State Bank of Pakistan (SBP), since December 2024. He said the government had repaid the central bank Rs300 billion [$1.08 billion] in its latest repayment on Thursday. 

“This landmark achievement reflects a decisive shift toward fiscal discipline, credibility, and responsible economic management,” Schehzad wrote on social media platform X. 

Giving a breakdown of what he said was Pakistan’s “early debt retirement journey,” the finance official said Pakistan retired Rs1,000 billion [$3.576 billion] in December 2024, Rs500 billion [$1.78 billion] in June 2025, Rs1,160 billion [$4.150 billion] in August 2025, Rs200 billion [$715 million] in October 2025, Rs494 billion [$1.76 billion] in December 2025 and $1.08 billion in January 2026. 

He said with the latest debt repaid today, the July to January period of fiscal year 2026 alone recorded Rs2,150 billion [$7.69 billion] in early retirement, which was 44 percent higher than the debt retired in FY25.

He said of the total early repayments, the government has repaid 65 percent of the central bank’s debt, 30 percent of the treasury bills debt and five percent of the Pakistan Investment Bonds (PIBs) debt. 

The official said Pakistan’s total public debt has declined from over Rs 80.5 trillion [$286.6 billion] in June 2025 to Rs80 trillion [$284.7 billion] in November 2025. 

“Crucially, Pakistan’s debt-to-GDP ratio, around 74 percent in FY22, has declined to around 70 percent, reflecting a broader strengthening of fiscal fundamentals alongside disciplined debt management,” Schehzad wrote. 

Pakistan’s government has said the country’s fragile economy is on an upward trajectory. The South Asian country has been trying to navigate a tricky path to economic recovery under a $7 billion loan from the International Monetary Fund.