LCCI For Zero-rating Facility To Food Sector

LCCI for zero-rating facility to food sector

LAHORE, (Pakistan Point News - APP - 10th Jan, 2017 ) : Food sector of Pakistan should be given zero rated facility to get due share in the international food trade. It would give quantum jump to the declining exports besides brining down the widening trade deficit. LCCI President Abdul Basit and Vice President Muhammad Nasir Hameed Khan said here Tuesday that Halal food trade of over US$ 2 trillion. Promotion of Halal products should be our National Agenda as it could give a quantum jump to the declining exports.

There is no Muslim country included in the list of top-10 halal meat exporters, although Pakistan has big potential of exporting halal meat globally. With little efforts Pakistan could easily grab the international Halal food market and could triple exports of this particular sector. They said that the global Halal food market is becoming one of the fastest growing markets. Despite having best strategic position, dynamic Halal food sector and direct gateway to the millions of consumers in Central Asia and middle East, Pakistan's share in international Halal food trade is negligible while even a number of non-Muslim countries are leading in this sector that should be a matter of concern for the Muslim countries.

They said that Pakistan has the potential to become superpower of Halal Industry since it has all the required ingredients and potential. They said that Pakistan has the ability and potential as well to capture a sizeable portion of World Halal Food Industry and the existing volume of exports is no match to Pakistan's annual output of Halal food. The LCCI office-bearers said that demand for Halal Products had increased manifold because of growing Muslim population world over therefore the government should encourage the export of Halal products.

They said that the Lahore Chamber of Commerce and Industry is doing the needful for the promotion of Halal products but the government would have come up with a package of incentives so that quality halal foods could be exported from Pakistan. They urged the exporters to continue to explore available opportunities in the world market and focus on Research that is a must while doing business at global marketplace. They said that hand-holding by the government could help jack-up exports of Halal products to over USD 10 billion.

They said that the Middle East, South Asia, East Asia, Central Asia, Europe and North Africa spend most on food and beverages therefore these regions should be targeted for Pakistani Halal products. He said that Pakistan's strength is a 100 percent halal production base, with around 200 million consumer in Pakistan and a direct access to millions halal consumers in Central Asia, Middle East and Europe. He said that Pakistan has great opportunity to grab its share of global halal product market by enhancing its production and improving quality. They said that zero rated facility to Halal food sector could help Pakistan dominating in the flourishing market of halal products because of its quality products.