ISLAMABAD: Minister for Science and Technology Senator Shibli Faraz announced on Tuesday that the national hemp policy has been drafted and sent to the federal cabinet for approval.

“A hemp regulatory authority will be formed to facilitate investors and a one-window operation will be started under the regulatory authority,” Shibli Faraz said in a statement.

Read more: Minister urged to propose white poppy seeds export without delay

He said numerous applications were received for cultivation of hemp. In the first phase, 100 companies would be issued licenses for cultivation of the crop, he said.

The federal minister also apprised that the policy was formulated in consultation with all the stakeholders.

“After consultation with the ministries of education, commerce, agriculture and anti-narcotics, it was decided that a boundary wall will be erected around the area where hemp will be cultivated and surveillance cameras will also be installed,” he said.

Read more: Industrial cannabis production will generate $1 billion in revenue

He said international hemp had the market of more than $100 billion. He clarified that the policy was devised for cultivation of the crop for medical and industrial purposes.

“Because of harvesting of hemp, import of textile and medicine will become less,” he hoped.