KARACHI: The Organic Meat Company Limited (TOMCL), a Karachi-based meat processor, has secured a $4 million contract to export frozen boneless beef to the United Arab Emirates (UAE), the company announced on Thursday.
TOMCL is one of the largest halal meat processors and exporters in Pakistan, which has been supplying meat products to Kuwait, Oman, Qatar, Saudi Arabia, Bahrain, Maldives, Hong Kong, Vietnam and the UAE.
In a stock filing at the Pakistan Stock Exchange, the company said it had successfully secured contract from UAE’s First Quality Food Stuff LLC to export 1,000 metric tons frozen boneless beef.
“This contract is the first of its kind for any meat processor and export house from Pakistan to the UAE,” the notice read. “Through this contract, TOMCL will be able to generate revenues in excess of $4 million within next six months.”
The company said its management was confident that the sales contract would have a positive impact on the company as well as benefit its shareholders.
TOMCL has a major chunk of its market in the Gulf region, according to TOMCL Chief Executive Officer Faisal Hussain. It exports up to 85 of its products to the Gulf Cooperation Council (GCC).
In April this year, the company announced securing a contract to export “Pet Chew to Canada and became the first company from Pakistan to obtain approval for the export of such products to Canada.”
Pakistan’s meat and meat preparation exports increased by 37 percent to $34.8 million in July as compared to the same period last year, according to the Pakistan Bureau of Statistics (PBS).
The country’s meat and meat preparation exports rose by 25 percent to $426.7 million during the outgoing fiscal year that ended on June 30.
