ISLAMABAD (TDI): On Friday, Pakistan’s parliament has passed the Hemp ‘Bhang’ Control and Regulatory Authority Bill 2024 seeking to legalize cannabis use for medicinal purposes.
A new bill has been introduced that seeks to establish comprehensive regulations for the hemp industry. The proposed legislation covers several critical areas, including the cultivation, extraction, and refining of hemp.
In a recent briefing to the committee, to a standing committee officials from the Pakistan Council of Scientific and Industrial Research (PCSIR) and the Ministry of Science and Technology said that regulating and value addition of cannabis is beneficial for Pakistan’s
Cannabis Medicinal Use
They revealed that if cannabis were legalized and properly regulated, it could potentially replace cotton in the textile industry and generate up to $4 billion for the country’s economy, a significant increase from the current $300 million generated by illegal cannabis operations.
Red More: Cannabis Regulation Bill: Landmark for Industrial & Medicinal Purposes
Globally, the cannabis market is valued at approximately $60 billion.
The officials highlighted that cannabis could be a major input in various sectors, including textiles, medicine, and entertainment.
Compared to synthetic alternatives, cannabis is considered less harmful and more sustainable.
The briefing also noted that in 24 U.S. states where cannabis is legalized, there has been a noticeable decrease in alcohol consumption, suggesting potential social benefits.
The proposed Cannabis Control and Regulatory Authority aims to oversee and regulate the cultivation, extraction, manufacturing, and sale of cannabis and its derivatives.
Also Read: Cannabis Landmark Bill for Medicinal Use
The authority’s goals include ensuring public health and safety, reducing illicit trafficking, and promoting the development of cannabis-based products.
