Food and agriculture group Cargill Inc will invest some $200 million in Pakistan over the coming three to five years in sectors ranging from dairy, to edible oils and animal feed, the Prime Minister’s Office said on Thursday.
“Cargill’s proposed investments will support Pakistan’s overall economic development and contribute to local employment,” it said in a statement following a meeting between company executives and Prime Minister Imran Khan.
Cargill’s global executive team, led by Marcel Smits, head of Global Strategy and Chairman, Cargill Asia Pacific region, and Gert-Jan van den Akker, president, Cargill Agricultural Supply Chain, met PM Imran and other senior government officials to discuss the company’s future investment plans.
Privately owned Cargill will expand its operations across the agricultural trading and supply chain, edible oils, dairy, meat and animal feed, the statement said.
Being a global food and agriculture producer with a strong focus on Asia, Cargill aims to partner on Pakistan’s growth by bringing its global expertise and investment into the country, it added.
The announcement comes as Pakistan, grappling with a severe squeeze on its foreign exchange reserves, has stepped up efforts to stabilise its economy and attract international investors.