Ministry of Food, Agriculture and Livestock (Minfal) has planned to launch a Rs 5 billion Agribusiness Investment Promotion Project (AIPP) to promote agribusiness investment promotion programmes and strengthening of agribusiness support fund and investment/marketing facilitation.
Equity participation in strategic/viable agribusiness ventures through an existing venture capital company, while Special funds allocation for Provinces and Special Areas is another objective.
Under this project, official sources of Minfal mentioned, a major chunk ie 78.5 percent of the project cost is earmarked for Agribusiness Support Fund (ASF) strengthening. A grant of Rs 3 billion to ASF is intended to establish an Agribusiness Equity Fund for placing with a Venture Capital Company of repute, with aim of entering into viable joint ventures with local and foreign investors in agribusiness.
The on-going "Agribusiness Development and Diversification Project" will be continued in all the provinces, AJK, Fata and Fana with the assistance of Asian Development Bank. It aims to develop a competitive and sustainable agribusiness sector in the country with particular reference to horticulture/horti-business, livestock, dairy development and promotion of the production of value added crops in the country from business point of view. It involves development of agribusiness policy and regulatory framework, rationalisation, restructuring, capacity building of DALPMG and FSCRD of Minfal.
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