US-based Cargill to invest $200 million in Pakistan

PM Khan says efforts under way to improve ease of doing business

ISLAMABAD: In a meeting with Prime Minister Imran Khan, an executive team of US-based Cargill - the provider of food, agriculture and industrial products - announced plans to invest over $200 million in Pakistan over the next three to five years.

The company's future investment strategy includes expansion across its agricultural trading and supply chain, edible oil, dairy, meat and animal feed businesses.

The prime minister told the delegation that Pakistan was following a liberal investment regime and was offering diverse and business-friendly incentives.

"Pakistan is endowed with a wealth of resources, has demographic potential and an educated workforce," he pointed out. "Concerted efforts are under way to further improve the ease of doing business in the country."

Adviser to Prime Minister on Commerce, Textile, Industry and Production Abdul Razak Dawood, who was also present in the meeting, apprised the delegation of the recent initiatives to improve the investment and business environment.

"Business-friendly vision of the government is expected to make Pakistan an irresistible destination for investors," he remarked.

Cargill executives offered support to steer growth in Pakistan by applying the company's global expertise and bringing investments into the country. To meet the goal, they said, Cargill would introduce innovations in Pakistan's dairy industry, which was already on the path of modernisation.

They pointed out that rising demand for edible oil, backed by evolving consumption patterns and a growing market for animal feed, provided opportunities for the company.

"Having been in Pakistan for more than 30 years, Cargill is happy to demonstrate its commitment to the country's future through investment," said Cargill Pakistan Country Head Imran Nasrullah.

"We have received a positive response from Pakistani government as we expand our presence while helping industries, farmers and communities."

He added that the company would work to enhance food security by contributing to social development in the country. 

Published in The Express Tribune, January 18^th, 2019.

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