Special Assistant to the President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Sheikh Umer Rehan has called upon the government to formulate a comprehensive 10-year policy to ramp up edible oil production, including palm oil, within the country. Highlighting the significance of achieving self-sufficiency in edible oil production, Rehan stressed the need for urgent measures to address the sector’s looming challenges.

According to Rehan, Pakistan’s significant reliance on edible oil imports, which constitute a major portion of the country’s exports, underscores the importance of enhancing domestic production capacity. He expressed concern over the projected doubling of the import bill for edible oil commodities in the coming years, warning that such a trend could strain foreign exchange reserves and exacerbate economic pressures.

Rehan pointed out that the coastal regions of Sindh and Balochistan possess favourable conditions for cultivating palm, mustard, and sunflower, citing successful government experiments yielding promising results. He underscored the potential of leveraging these regions to meet local demand and reduce import dependency. However, he emphasised the crucial role of government support and collaboration with the private sector in realising this objective.

Furthermore, Rehan emphasised that augmenting domestic edible oil production would contribute to conserving foreign exchange reserves and cater to the escalating demand for edible oils. He called for concerted efforts from public and private stakeholders to capitalise on the untapped potential of the edible oil sector and drive sustainable growth in the country’s economy.

Sheikh Umer Rehan urged the government to prioritise the formulation and implementation of a long-term policy framework to foster the development of the domestic edible oil industry. He emphasised that proactive measures in this regard would bolster economic resilience and enhance food security and self-reliance in Pakistan.