KARACHI: The Federal Minister for Industries and Commerce, Jam Kamal Khan, announced that the government will establish a committee to draft a comprehensive edible oil policy aimed at boosting the production and export of ghee and edible oils.
He shared this commitment during a meeting with Sheikh Umer Rehan, Chairman of the Pakistan Vanaspati Manufacturers Association (PVMA), and other industry leaders.
Prominent attendees included Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh, Senior Vice Chairman Asjad Arif, Vice Chairman Khalid Islam, Sheikh Amjad Rashid, and Sohail Malik.
Highlighting the essential role of ghee and edible oils in households, Jam Kamal Khan emphasized that reducing reliance on imports and enhancing domestic production of edible oils are top priorities for the government.
According to PVMA information, the minister praised the PVMA’s contributions to the industry and assured stakeholders that the government will provide extensive support to exporters, importers, and industrialists.
Sheikh Umer Rehan, Chairman of PVMA, underscored the potential for exporting ghee and oil to African and Middle Eastern countries if the government removes export barriers and reduces additional import duties on raw materials.
“The ghee and edible oil industry is Pakistan’s second-largest revenue-generating sector,” Rehan noted, urging the government to support local production, particularly from soybean, sunflower, and mustard oils.
He further proposed a pilot project for the development of a rice bran oil industry, highlighting its potential to reduce import dependency and strengthen foreign exchange reserves. With proper government backing, Pakistan could also export rice bran oil to the global market, Rehan suggested.
FPCCI President Atif Ikram Sheikh lauded the Ministry of Commerce’s efforts under Jam Kamal’s leadership and expressed the business community’s confidence in his initiatives.
Copyright Business Recorder, 2024
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