The Punjab Board of Investment and Trade (PBIT) will create a pro-investment business operation procedure in the resource-rich sector of livestock and dairy development. This support will be a part of a wider goal to steadily elevate Punjab's average growth rate of about six percent per annum and to reinvest about 25 percent of its GDP annually.
This was stated by Consultant to the Punjab Chief Minister on Economic Affairs and Vice-Chairman of PBIT Pir Saad Ahsan-ud-Din, while talking to a local and international delegation of livestock scientists and experts here on Monday. It may be noted that the PBIT has supported the sixth Asian Buffalo Congress held in the city.
Speaking on the occasion, Pir Saad welcomed the Pakistani and foreign experts, and added that the buffalo was an inextricable part of the rural landscape and important livelihood asset of a population of 35 million. "Any improvement in its productivity and production has a direct bearing on alleviating rural poverty and enhancing income of millions all where this animal is a part of farmers' economic assets," he said.
Pir Saad the PBIT had a focused approach in promoting the livestock industry, which deserved more attention from the investors' community because of its magnitude of potential. He said the industry currently had a 30 billion-dollar annual turnover, and added the PBIT had reached out to local and foreign investors to identify areas of facilitation they required from the Punjab government to enhance dairy production efficiency, Halal meat production and boost the lucrative leather industry.
He said that PBIT was a one-window operation to provide matchmaking between cutting-edge livestock farming practices and the capital needed to drive it. The Asian buffalo is termed as the "Black Gold" of Pakistan and Pakistan ranks among top five milk-producing countries of the world with an annual yield of 42 billion litres per year.
Pir Saad added that there was great potential of investment in dairy centre and many multinational and national companies such as Nestle, Haleeb, Engro Foods and Noon Dairies were continuously investing to upgrade their plants.
He added currently the buffalo milk contributed 70 percent to Pakistan's total milk production and value-added products such as butter oil and Italian mozzarella cheese, and pointed that there was plenty of demand for efficiently packaging and marketing this high quality resource.
The PBIT Vice-Chairman said that the meat production sector was also a sizeable revenue-generating engine and after India, Pakistan was the second largest buffalo meat exporter. "Similarly, there is tremendous potential for low-cholesterol Halal meat and meat products to market to Muslim countries," he added. Pledging his support to the congress of livestock experts, he said that all investors, reaching out the PBIT would be met with one-to-one relationship and government facilitation.