ISLAMABAD: The country’s edible oil industry can give $2.5 billion to national exchequer annually.
This was stated by Pakistan Businessmen and Intellectuals Forum and Karachi Industrial Alliance President and former provincial minister Mian Zahid Hussain, while talking to the local business community.
He said that Pakistan for self-sustaining in edible oil production for thirteen years after independence but exploitation of farmers and lack of interest on the part of authorities resulted in imports which are now second largest after fossil fuel in which palm oil enjoys 90 percent share.
He said that farmers of different oilseeds are at the mercy of middlemen which is the biggest reason behind lack of interest by growers. He said self-reliance requires increasing land under cultivation, support price, incentives, latest varieties of seed and preference to the coastal belt of Sindh and Balochistan over all other areas.
Pakistan per capita consumption stands at 12-13 litres which is increasing by three percent annually which will increase import bill. But we are producing one-third of the edible oil while rest is imported.
