Business
Pakistan Vanaspati Manufacturers Association seeks policy to boost edible oil output
字号+ Author:Smart News Source:US 2025-01-14 02:10:27 I want to comment(0)
KARACHI: Pakistan Vanaspati Manufacturers Association (PVMA) Chairman Sheikh Umer Rehan has urged the government to urgently implement a comprehensive edible oil policy aimed at boosting local production and reducing the country’s on imports. Such a policy, he emphasised, is crucial for mitigating the impact of global market . Pakistan depends on imports for 90 per cent of its edible oil needs, making it the third-largest palm oil importer globally. Domestic production accounts for only 10 per cent of the country’s total demand. Mr Rehan expressed concern over recent developments in Indonesia, the world’s largest palm oil producer, where new legislation mandates that 40pc of palm oil be diverted for biodiesel production. This shift has disrupted global supplies, pushing prices higher and creating challenges for import-dependent countries like Pakistan. “The reduction in global supply and rising prices, particularly from Indonesia, pose significant risks to Pakistan’s edible oil industry,” he warned, adding that without preemptive measures, these issues could severely impact local industries and lead to shortages. The PVMA chairman called on Prime Minister Shehbaz Sharif and Minister for Commerce Jam Kamal Khan to prioritise the issue, stressing its importance for food security. He also recommended that Pakistan leverage its position as a major importer to influence global pricing and urged the government to introduce policies that incentivise local production and investment in the edible oil sector.
1.This site adheres to industry standards, and any reposted articles will clearly indicate the author and source;
Related Articles
-
'Struggling' Djimon Hounsou calls out Hollywood pay gap: 'I'm underpaid'
2025-01-14 02:05
-
Montenegro restaurant firing leaves several dead: police
2025-01-14 01:43
-
10 dead as man drives truck into New Year crowd in New Orleans
2025-01-14 01:04
-
South Korea crash investigation ramps up as funeral procedures begin
2025-01-14 00:15
User Reviews
Recommended Reads
Hot Information
- Agri, revenue staff persuade farmers to grow wheat
- US driver flying Daesh flag rams into New Orleans crowd, killing 15
- History's most renowned psychics predict disasters to sweep world in 2025
- 10 dead as man drives truck into New Year crowd in New Orleans
- Sole PIA bid formally rejected, case sent back to cabinet
- 2025 to witness beginning of Generation Beta
- Jeju Air tragedy: What we know so far
- 10 dead as man drives truck into New Year crowd in New Orleans
- Tirah elders, officials pledge peace efforts
Abont US
Follow our WhatasApp account to stay updated with the latest exciting content