ISLAMABAD, Feb 22: Pakistan is expected to earn $2,600 million from the export of fruits and vegetable this year, said Commerce Minister Abdul Razzaq Dawood on Thursday.

Talking to a US delegation comprising Exim Bank of Trade Development Agency (TDA) at his office the minister said there was tremendous potential in agro-based sector of Pakistan which could be exploited for massive gains by the US investors.

He informed the delegation that prior to the scheme worked out by the government for the exports, some 40 per cent of fruits and vegetable waste was causing a great deal of loss to Pakistan.

Proper cold storages being established in key cities of the country would avert this loss and enable Pakistan to earn a valuable foreign exchange on regular bases, the Minister hoped.

The US investment companies could help Pakistan realize “horticulture vision” by investing in distribution, processing packing and transportation of the fruits and vegetable, the minister said.

He pointed out that Small and Medium Enterprise Authority (SMEDA) was already working in the field of agricultural research particularly in the growth of potatoes which would benefit the US investors in Pakistan in their proposed ventures in the country.

Commerce Minister Abdul Razzaq Dawood urged the delegates to invest in the Korangi (Karachi) fish harbour, where tremendous investment potential existed and only a leveraging part was left in this mega project.

Pakistan could offer best sea food and an ideal place for export of leather and leather products to the foreign investors, he added.

The leather related projects could yield good returns to the investors due to zero duty in the finished leather goods the Minister informed.

Pakistan had great reserves of coal and there was no power crisis existed in Pakistan hence the investors could carry out long term planning to explore long term strategic co-operation in this field.

The head of the delegation on this occasion noted the purpose of their visit was to gather first had information about the investment environment in Pakistan and to point out the areas of priority for funding through EXIM bank and Trade Development Agency.