Muhammad Saleem

The Punjab Board of Investment & Trade (PBIT) has approved the prefeasibility of the food processing units project with instructions to consultants to prepare it in a format that can be presented to banks and financial institutions for potential investments. The approval was given during a recent meeting presided over by PBIT Chairman Muhammad Muntaha Ashraf. A PBIT spokesperson told Wealth Pakistan that the board’s director general informed the participants about the project proposals.

He said that out of a total of 86 proposals, which were submitted by different departments, 20 were shortlisted by Projects and Business Development Committee (PBDC) for development so that they could all be converted into structured investment proposals. He said that following PBDC directions, six proposals were first sent to financial consultancy and accountancy firms. “These firms had been asked to prepare detailed investment prefeasibility reports.”

“The DG also informed the participants that PBIT had held 18 meetings and consultations with the consultants hired for these projects and relevant departments to ensure sectoral alignment and data-driven project planning,” the spokesperson said. After the briefing by the DG, the consultants working on the Food Processing Units Project presented their report, informing the meeting that the project aims to reduce post-harvest losses by processing citrus, mango, guava and tomato crops.

The PBIT spokesperson said that the consultants recommended locating the project near Faisalabad, where strong logistical and industrial support infrastructure was readily available. The PBIT chairman asked the consultants to ensure that the report clearly emphasised economic viability and was structured to appeal directly to small and medium-sized investors.

Dr Muhammad Imran, an associate professor at the University of Agriculture Faisalabad, told Wealth Pakistan that the Food Processing Units Project was a significant step toward strengthening the agriculture sector of Punjab. He said that Punjab was playing an active role in strengthening the national economy through textile exports and by producing large quantities of fruits like citrus, mango, guava and tomatoes.

However, he said that it was ironic that a considerable portion of the produce was lost after harvest as growers lacked adequate storage, processing facilities and modern harvesting methods. “Such post-harvest losses are denting farmers’ income and affecting the overall productivity and profitability of the agriculture sector of Pakistan,” he added.

He said that setting up dedicated food processing units across the province will help convert raw agricultural produce into value-added products. “These value-added products will then be exported to bring in much-needed foreign exchange and create new business opportunities in the processing, packaging and distribution sectors,” Imran said.

Credit: INP-WealthPk