Edible oil: Centre, Punjab discuss plans aimed at reducing import expenditure

LAHORE: An important meeting of both the federation and the Punjab province held on Friday to focus on strategies to curtail the import expenditure on edible oil while augmenting the production of oil-based products.

Various proposals were reviewed at this meeting which was chaired by Federal Minister for Commerce and Industries, Gohar Ijaz and Punjab Minister for Industries and Commerce, S M Tanveer with a unanimous commitment to collaborative action in achieving the set targets.

Addressing the meeting, Gohar Ijaz, emphasised the caretaker government’s resolution to harness the agricultural potential of the nation. He underscored that fair compensation for farmers’ toil would drive an upsurge in the country’s exports.

He assured that the government would staunchly safeguard the interests of farmers, highlighting the willingness of oil farmers to allocate the necessary acreage for commodity cultivation. He urged close coordination between the Dalda Board and the Punjab government in identifying suitable areas for oilseed cultivation.

Gohar Ijaz stressed that elevating local oil production is imperative, affirming that collective endeavors would render edible oil exportable. He concluded with an encouraging note, emphasising that progress comes to those who relentlessly strive forward.

Provincial Minister of Industry and Commerce, S M Tanveer, in his address, acknowledged the diligence of Pakistan’s scientists, farmers, and citizens but lamented the lack of an efficient system.

He pointed out that 58 small dams in the Potohar Region lie dormant, and the Greater Canal Thal project remains idle, with machinery gathering rust. SM Tanveer shared that an intensive effort is underway to draft a 10-year master plan for agricultural sector development, with a comprehensive roadmap expected before the upcoming elections.

He highlighted the government’s all-out mobilisation to combat smuggling, foreseeing a potential industrial renaissance once smuggling is curtailed. Tanveer stressed that the nation expended a significant $ 5 billion annually on edible oil imports, a gap that the oil industry aims to bridge by escalating commodity production. The business community pledged its unwavering support to the government’s pursuit of self-sufficiency.

The Department of Agriculture officials presented an extensive briefing on the measures taken to augment oilseed production. The meeting was attended by Chairman Dalda Board, CEO Board, Board Members, DG Extension Agriculture, DG Industries, DG Research, chief scientists, agronomists, and concerned officers.

Copyright Business Recorder, 2023