PVMA chief for promotion of oilseed farming to cut $4bn import bill

KARACHI: Vanaspati manufacturers are currently importing raw material worth $4 billion, which must be reduced by promoting local cultivation of oilseeds.

This was stated by newly-elected Chairman of Pakistan Vanaspati Manufacturers Association (PVMA) Sheikh Abdul Waheed on Tuesday. Other office-bearers present on the occasion included PVMA Senior Vice Chairman Raza Ibrahim and Vice Chairman Rafiullah.

Waheed thanked the executive committee members for reposing their confidence in him and promised that he would try his best to resolve the issues being faced by the industry. He said that the country is producing around 4.5 million tonnes of ghee and cooking oil per annum, worth almost Rs900 billion, adding that the vanaspati industry deserves full attention of authorities as it is one of the top five taxpaying sectors of the country.

The PVMA members congratulated Sheikh Waheed and hoped that he will utilise all resources to resolve problems being faced by the industry.

- Advertisement -
- Advertisement -

Must Read

Footwear exports surge 23.7pc in 2MFY22

ISLAMABAD: The export of footwear from the country increased by 23.72 per cent to $26.787 million during first two months of fiscal year 2021-22...