By Muhammad Soban ISLAMABAD, Jan. 26 (INP-WealthPK): Pakistani Halal products will soon be part of the international Halal market as the Pakistan Halal Authority (PHA) has finalised the long-pending Business Rules and Certification Marks Regulations 2021. The PHA has developed financial rules that will transform it into a self-sustained organisation in line with government policy within the next six months. Speaking at an interactive session to understand Halal regulations and the role of certification bodies to make Pakistani products globally acceptable, Minister for Science and Technology Senator Shibli Faraz said the government has paved the way for entering into the international Halal market. The minister said Pakistan has a special role in the Islamic world. He said the Ministry of Science and Technology is working with the Organisation of Islamic Conference (OIC) member countries to set international standards of Halal products that are acceptable and used by all countries. The mandate of the PHA is that of a regulator. It will provide awareness about the use and production of Halal products in Pakistan. The PHA was established in 2016 through an act of Parliament. The purpose of establishing the PHA was to enhance the trade of Halal food, and stamping the Halal status of the edible and certain non-edible products. Furthermore, its mandate is to monitor both local and imported products. But since 2016, the PHA had been unable to operate due to its long-pending business rules and regulations. The global Halal product market is the fastest growing commercial area that is trying to meet the demand of 1.9 billion Muslims worldwide. Besides that, demand for Halal goods has been increasing in the non-Muslim community around the globe. The global Halal market value is about $1.9 trillion. Turkey and Malaysia are the leading producers of Halal products in the world. The world Halal industry is further segmented into many sub-groups. Meat, poultry, and seafood have a significant part of 27 percent of the total Halal goods market. In the global Halal meat market, non-Muslim countries are the top exporters, including Brazil and India. Pakistan is ranked 18thin Halal meat exports. There is immense potential for Pakistani Halal products in the international market. Pakistan could be a key player in Halal products market in the coming years. Pakistan is an agricultural country, the fourth-largest milk producer globally, following China, India, and the United States. According to the Economic Survey of Pakistan, for the fiscal year 2021, livestock contributes around 60.5 percent to the total agriculture sector, 11.53 percent to the total Gross Domestic Product (GDP), and 3.1 percent to Pakistan's exports. Despite having almost 50 million livestock, Pakistan’s exports share is only 1 percent of world Halal meat exports. International investors are keenly interested to make investment in Pakistan’s Halal food industry. In 2021, the Malaysian government approved the largest meat plant in Pakistan that will help boost meat exports to the world. New avenues for Pakistan Halal food exports are opening as Pakistan shipped its first consignment of Halal meat to Jordan last year. Pakistan is eyeing to get a 25 percent share of the Jordanian meat market, which will help it increase Halal meat exports by $100 million. The PHA has prodigious potential to contribute to the global Halal product market. But according to WealthPK source, the PHA has been facing problems to find the technical human resources who have expertise in Halal standards.