Pakistan is working with Malaysia to have technical collaboration in auto parts manufacturing with buy-back guarantee. This was stated by Minister for Industries and Production Mir Hazar Khan Bijarani while talking to media at the second Malaysia-Pakistan Palm Oil Trade Fair and Seminar (POTS) 2011 at a local hotel on Tuesday.
He said Malaysia would help Pakistan to further strengthen its auto vendors industry. The Minister said Pakistan was working hard to promote local production of palm oil and set up oil palm extraction in the country. He pointed out that plantation of palm oil plants had already started in Thatta, which was ideal for its production and efforts were on to set up extraction plant.
Bijarani pointed out that the government wanted to cut dependence of palm oil import to reduce burden on national budget and also to create a balance of trade between Pakistan and Malaysia. He said Pakistan was currently exporting rice, textiles and vegetable and fruits to Malaysia.
Minister of Plantation Industries and Commodities of Malaysia Bernard Dompok said that southern Pakistan had the suitable climate for palm oil plantation and his country was helping Pakistan in this regard. He said that Malaysia was exporting 2.2 million tons of palm oil to Pakistan per annum, besides raw material for rubber and paper production. He said palm oil was the most competitive oil in the world and its global demand was also increasing by the passage of time.
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