KARACHI: Saudi Arabia’s Al-Tamimi Group of Companies is exploring investment opportunities in Pakistan’s dairy, livestock, food, and meat processing sectors, officials said on Wednesday.
The group’s Chairman, Sheikh Tariq Ali Abdullah Al-Tamimi, met with Prime Minister Imran Khan on Tuesday and expressed investment interest in the country.
Khan welcomed the Saudi investment and emphasized on the reforms taken by his government for ease-of-doing-business and providing one-window operation to potential investors, a statement issued by the PM office said.
“Pakistan is blessed with 12 climatic zones and is suitable for a variety of agricultural, fruit, dairy and fisheries production”, PM Khan said adding that the “government is also focusing on research & development to enhance productivity and increase exports with the help of private investors.”
Al Tamimi said that international businesses were now confident to invest in Pakistan due to transparency and facilitation provided to businessmen, the statement added.
Al-Tamimi Group is a mega Saudi conglomerate of more than 30 companies and 10 joint ventures covering more than nine business sectors including supermarket chains, power generation, hotels, transportation catering, real estate, oilfield services & supplies, construction, trucking, and water filtration.
Experts say the arrival of Al Tamimi Group would benefit both countries in terms of food security in Arabian countries and modernization of Pakistan’s agriculture and livestock sector.
“Whenever something new from abroad comes in livestock in a big way it is adopted by the smaller players of the sector,” Mian Abdul Hannan, Chairman of All Pakistan Meat Exporters and Processors Association, told Arab News.
“Huge potential exists in Pakistan for new investment. Big animal and agriculture farms could be established to address the issues of meat and mutton and fodder shortage in middle eastern countries,” Hannan said adding that “new foreign investment comes with expertise that is what Pakistan needs as a developing country with promising returns.”
The stakeholders of the livestock sector suggest Saudi-Pakistan investment in the sector could also cater to the need for sacrificial animals during the Hajj season.
“Raising animals for the production of beef and mutton can be a big opportunity in Pakistan and could be used to cater to the needs of sacrificial animals during the Hajj season. Both Pakistan and Saudi Arabia will benefit by raising animals in Pakistan for the Hajj season,” Hannan noted.
Saudi investment could also address food security concerns of Gulf countries as the South Asian nation provides ample raw material for new investment, experts opine.
“Pakistan’s priority sector includes food processing such as agro and livestock-based industries where Pakistan has a comparative advantage due to the availability of raw material. Arab countries mainly import food,” Haroon Sharif, former chairman of Board of Investment of Pakistan, told Arab News.
“They have an advantage from food security angle and if they start growing crops here and import they will have low-cost food available and with manufacturing done in Pakistan they would be in a position to ensure the quality of their choice,” he added.
Sharif believes that the Saudi investment in the Halal meat market would not only cater to the need of their own country but also provide an export base in Pakistan to Chinese Muslims, central Asia, Malaysia, and Indonesia. “They can cater to the needs of the regional market as well as their own needs. At good cost they can address their food security concerns in a big way,” he noted.
