Corporate sector investments drive agricultural growth in Pakistan: report

KARACHI: The corporate and financial sectors are increasingly investing in the agriculture sector, aiming to boost its growth and development. This insight was shared during the launch of The State of Pakistan’s Agriculture 2024 report by the Pakistan Business Council (PBC) and the Pakistan Agricultural Coalition (PAC), held at the National Foods Limited (NFL) Corporate Head Office.

In his opening remarks, Ehsan Malik, CEO of the PBC, highlighted the agriculture sector’s immense potential to contribute to economic stability, food security and rural development. “This report shows how the corporate sector is playing a key role in advancing the agriculture industry,” Ehsan stated.

Kazim Saeed, CEO of PAC, said that where international-level agriculture is found in Pakistan, there is often a leading corporate entity working directly with farmers. “This report documents how corporate and financial players are contributing capital, technology and expertise to the agricultural sector for its growth and prosperity,” Kazim explained.

He added that many companies are adopting sustainable practices, such as regenerative agriculture, eco-friendly production methods and efficient resource usage. The event included presentations by companies whose initiatives were featured as case studies in the report.

Global CEO of National Foods Limited (NFL) Abrar Hasan praised the efforts of the PBC, PAC and other corporate players driving growth in the agriculture sector. Speaking about NFL’s case study, he noted that the company is focused on self-sufficiency, increasing exports and digitising farming in Pakistan to maintain a strong value chain. “Our products and partnerships demonstrate the positive impact of technology. The ‘Seed to Table’ initiative reflects our commitment to growth beyond borders, expanding into international markets while supporting the national economy through exports,” said Abrar. He highlighted NFL’s success in developing the tomato value chain, which helped create import substitution for tomato paste, benefitting both the company and the country.

“We can unlock export potential by developing the tomato paste value chain, as tomatoes have higher export potential compared to other crops,” he added, noting that NFL’s approach serves as an example of how to respond to the recent sharp depreciation of the rupee.

Adil Sattar of K&N’s spoke about the company’s six-decade-long leadership in poultry breeding, introducing new technologies in poultry farming, processing and retailing for both domestic and international markets. He also mentioned their commitment to food safety and Halal certification, maintaining hand slaughtering methods instead of stunning, despite the additional cost and effort.

Faraz Zafar, Investment Director at AlKaram, discussed plans for Pakistan’s largest shrimp farm, Al-Karam’s Dhabeji Aqua Foods. The farm, located in Sindh’s Thatta, will cover 400 acres and feature 300 half-acre ponds. AlKaram has also invested in companies focused on cultivation and drone-based services. Faisal Iftikhar, CEO of AquaHatch, shared the vision of Garibsons and Jaffer Group, who are investing in fish and shrimp seed businesses to support farmers across Pakistan.

Taimur Malik from Drawdown Farm by Thal Industries highlighted the importance of regenerative agriculture in protecting Pakistan’s soil, water and biodiversity. Amer Aziz, CEO of HBL Zarai Services, discussed how the corporate sector can better serve farmers, while M Aminuddin, CEO of TPL Insurance, spoke about the role of crop insurance in safeguarding farmers’ livelihoods.