KARACHI, Feb 10 Asia Pulse - Federal Industries Minister Liaquat Ali Jatoisaid the government wanted to reduce the import bill of edible oil byincreasing the cultivation of palm oil trees in Pakistan.He said that Pakistan is currently spending about Rs24 billion (US$413.4million) annually on the import of edible oil including palm oil, soybean,and sunflower oil in order to meet domestic demand.He was speaking at the national conference on palm oil at a local hotel."The local cultivation of palm oil trees will give a better price to ourgrowers as well as provide a raw material for our industry withoutspending foreign exchange," he added.Later, talking to reporters, Jatoi said the government wanted to encourageinvestment and industrialization in the country by reducing tariffs.