Pakistan’s government announced in September that it would allow the industrial production of hemp, a type of cannabis plant containing cannabidiol (CBD) that advocates say has numerous medicinal and relaxing properties. Hemp, however, does not contain significant quantities of high-inducing tetrahydrocannabinol (THC).
Prime Minister Imran Khan’s government has struggled to boost the country’s foreign exchange coffers, which have been drained by a struggling economy, fiscal deficits and inflation.
Fawad Chaudhry, the science and technology minister, said Pakistan could rake in about $1 billion (€820 million) in revenue over the next three years by capturing a share in the booming CBD market. Chaudhry said the industrial hemp market was worth about $25 billion globally and several countries were relaxing laws targeting cannabis-based products such as CBD oils.
The government’s decision came after a UN commission voted to…