MARKET DEVELOPMENT
Sindh in Talks with Malaysian Firm
Sindh in Talks with Malaysian Firm
31/05/2014 (The News International) - The Sindh government has entered into negotiations with a Malaysian company for the cultivation of palm oil plantations on five hectors land in the province, as both the provincial and federal governments have been taking keen interest in the new cultivation project.
Talking to a delegation of notables of his native constituency at his office on Friday, Sindh Minister for Parliamentary Affairs, Environment and Coastal Development Dr Sikandar Mandhro said that negotiations with the prospective Malaysian company Felda would reach certain conclusive stage by the holy month of Ramzan.
According to him, after China, India and the Netherlands, Pakistan is ranked as the fourth largest palm oil importing country. Out of total imports of 1.86 billion US dollars, Pakistan spends around 1.3 billion dollars on the import of palm oil alone.
Malaysia has been looking into the possibility of securing some suitable piece of land in Pakistan’s coastal areas on lease for the cultivation of palm oil plantations on modern lines. Malaysia has also shown interest in setting up factories for the extraction and production of palm oil as well as marketing palm oil products in Pakistan.
Mandhro said that the provincial departments of Revenue, Agriculture and Forest had been engaged in the process of surveying suitable pieces of land in coastal areas of the province as well as their proper demarcation for using them for palm oil plantations, adding, the government would soon get suitable results on this count.
The minister said that in case Pakistan secures the stage of self-reliance in the cultivation of palm oil plantations, then it would be helpful in saving foreign exchange reserves to a large extent as well as opening new opportunities of foreign investment in the country.
Talking to a delegation of notables of his native constituency at his office on Friday, Sindh Minister for Parliamentary Affairs, Environment and Coastal Development Dr Sikandar Mandhro said that negotiations with the prospective Malaysian company Felda would reach certain conclusive stage by the holy month of Ramzan.
According to him, after China, India and the Netherlands, Pakistan is ranked as the fourth largest palm oil importing country. Out of total imports of 1.86 billion US dollars, Pakistan spends around 1.3 billion dollars on the import of palm oil alone.
Malaysia has been looking into the possibility of securing some suitable piece of land in Pakistan’s coastal areas on lease for the cultivation of palm oil plantations on modern lines. Malaysia has also shown interest in setting up factories for the extraction and production of palm oil as well as marketing palm oil products in Pakistan.
Mandhro said that the provincial departments of Revenue, Agriculture and Forest had been engaged in the process of surveying suitable pieces of land in coastal areas of the province as well as their proper demarcation for using them for palm oil plantations, adding, the government would soon get suitable results on this count.
The minister said that in case Pakistan secures the stage of self-reliance in the cultivation of palm oil plantations, then it would be helpful in saving foreign exchange reserves to a large extent as well as opening new opportunities of foreign investment in the country.