ISLAMABAD: A US-based multinational company Cargill has renewed its long standing commitment to Pakistan by announcing plans to invest more than $ 169 million in five years.
The announcement was made after Cargill’s global executive team, led by Marcel Smits, head of Global Strategy and Chairman, Cargill Asia Pacific region, and Gert-Jan van den Akker, president, Cargill Agricultural Supply Chain, met with the Prime Minister Imran Khan in Islamabad today.
The visiting delegation informed the Prime Minister that Cargill intended to invest in Pakistan as back as 2012 but was discouraged by mismanagement, corruption and non-availability of level playing field during the previous governments.
However, investor’s confidence has restored after the incumbent government and the policies being pursued by it.
The Prime Minister welcomed investment plans of Cargill in the area of agriculture development, import substitution and enhancement of agricultural products.
He highlighted the efforts of the government towards ensuring transparency, providing the business community with level playing field and improving ease of doing business in the country.
The Prime Minister assured the delegation full support from the government.
Being a global food and agriculture producer with a strong focus on Asia, Cargill aims to partner on Pakistan’s growth by bringing its global expertise and investment into the country. The company’s strategy includes expansion across its agricultural trading and supply chain, edible oils, dairy, meat and animal feed businesses while ensuring safety and food traceability.
Cargill will bring world class innovations to support the flourishing dairy industry in Pakistan as well as the rising demand for edible oils and a growing market for animal feed.—NNI