Cargill to grow Pakistan business with $200m investment

Published January 18, 2019
Cargill Asia Pacific Region Chairman Marcel Smits meets Prime Minister Imran Khan at PM Office. ─ Photo courtesy PID Twitter
Cargill Asia Pacific Region Chairman Marcel Smits meets Prime Minister Imran Khan at PM Office. ─ Photo courtesy PID Twitter

Global food and agriculture producer Cargill on Thursday renewed its long standing commitment to Pakistan by announcing plans to invest more than $200 million in Pakistan in the next three to five years.

The announcement was made after a meeting between Prime Minister Imran Khan and other senior government officials, and Cargill's global executive team at PM Office.

Cargill's team was led by head of Global Strategy and Cargill Asia Pacific region chairman, Marcel Smits, and Cargill Agricultural Supply Chain President Gert-Jan Van Den Akker.

Both sides discussed the company's future investment plans, a press release issued by PMO said. Cargill, which has a strong focus on Asia, intends to partner with Pakistan to bring its global expertise and investment into the country.

Cargill's proposed investments are expected to support Pakistan's overall economic development and contribute to local employment.

The company's strategy includes expansion across agricultural trading and supply chain, edible oils, dairy, meat and animal feed businesses, while ensuring safety and food traceability.

Cargill is expected to use employ its world class innovations to support the flourishing dairy industry in Pakistan ─ which is already moving toward modernisation, as well as the rising demand for edible oils backed by evolving consumption patterns and a growing market for animal feed driven by sustained progress made by the poultry industry.

The visiting delegation informed the prime minister that Cargill intended to invest in Pakistan as far back as 2012 but were discouraged by mismanagement, corruption and non-availability of level playing field during the previous governments.

Prime Minister Khan welcomed Cargill's proposed plans for investment 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 a level playing field and improving ease of doing business in the country.

The prime minister assured the delegation of the government's full support.

Now you can follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Election uncertainty
Updated 27 May, 2023

Election uncertainty

All political actors must call a ceasefire and agree to hold polls on time.
Poorer nation
Updated 27 May, 2023

Poorer nation

The citizenry has been left decidedly poorer by this government’s mismanagement.
Subdued Games
27 May, 2023

Subdued Games

THE National Games are supposed to be a quadrennial celebration of Pakistan’s top athletes who showcase their...
Smoke and mirrors
Updated 27 May, 2023

Smoke and mirrors

Why did the PTI government allow the individual from whom the money had been forfeited to benefit from its return?
Spending spree
26 May, 2023

Spending spree

THERE can be little argument with the fact that Pakistan’s economy is in dire straits; as most economists of ...
Killer heat
26 May, 2023

Killer heat

AS temperatures soar faster and furiously, meteorologists conclude that extended hot spells will hit every year....