A Senate committee in Pakistan on Monday unanimously approved a bill to regulate the cultivation and production of cannabis in the nation. In a press release, Dr. Syed Hussain Abidi, PCSIR Chairman, said the measure would protect public health and has economic potential between $4 billion and $6 billion.   Â
The measure would create a Cannabis Control and Regulatory Authority, which would be tasked with advising the federal government on cannabis policy, preparing annual reports on the implementation of the policies, reviewing laws and suggesting amendments to legislative proposals and regulations, specifying and proposing fees and administrative penalties, setting quality controls, issuing licenses, conducting research, and maintaining testing laboratories, according to the bill text. Â
The legislation notes that the agency will also be charged with regulating products that contain less than 0.3% THC – the current standard for hemp products – and that medical cannabis products would be manufactured under the reforms.Â
The bill includes some regulations around packaging and sets fines for businesses that run afoul of cannabis laws between 10 million Rupees (~$36,000 USD) and 200 million Rupees (~$718,000 USD), along with additional daily 100,000 Rupee (~$360 USD) fines for continued contravention. For individuals, the bill sets fines between 1 million Rupees (~$3,600 USD) and 10 million rupees, with additional daily 10,000 Rupee (~$36 USD) fines for continued contravention of the laws. Â
The bill still requires Parliament’s approval.Â
Get daily cannabis business news updates. Subscribe
End