Former vice president of FPCCI, Saquib Fayyaz Mango has said that Pakistan has a great opportunity to get a big share in the global halal market. "Major shortcoming that Pakistan's halal sector faces is the absence of strong regulatory mechanism," he said, speaking at a seminar. However, he hastened to add that steps were being taken to fill this vacuum. He cited that Ministry of Science and Technology had drafted a bill aimed at establishing the Pakistan Halal Authority at the federal level to promote halal products by ensuring compliance with Shariah.
He said that the global Muslim population constitutes 24% of the total world population but in fact more than 80% of the world halal trade is dominated by non-Muslim states. "World's leading suppliers for Halal products including high quality meat, poultry, dairy products and other foods are Australia, Brazil, Canada, Indonesia, India, Malaysia, Philippines, Thailand, New Zealand and USA," he said, adding that there was an estimate that Halal products trade in all over the world amounted US$2.27 trillion.
He said Halal products now covered a complete range of products that were being offered in supermarkets, 5-star hotels, restaurants, fast food chains, airline meals, school dinners. He said that now it has become a lifestyle choice that included personal hygiene, healthcare products, cosmetics, etc.