KARACHI: The CEO of FrieslandCampina Roelof Joosten and Engro Corporation chairman Hussain Dawood met Prime Minister Nawaz Sharif on Wednesday and jointly discussed possible opportunities to develop the dairy industry in the country through knowledge transfer and provision of nutritious value-added products.
They highlighted the need to explore partnership opportunities with the government to bring the local dairy industry at par with international standards. Prime Minister Nawaz Sharif said the transaction would be instrumental in positioning Pakistan as an attractive investment destination for global companies and encourage others to follow.
“I am hopeful that this partnership will allow the Pakistani population to enjoy a wider array of affordable, high quality dairy products for a healthier Pakistan. Improving the wellbeing of millions of our farmers is a cause that Pakistan has been focused on since its inception. I am convinced that this partnership will create tremendous long term value for our dairy farmers,” the PM added.
Royal FrieslandCampina NV CEO Roelof Joosten said, “The partnership with Engro Foods will accelerate FrieslandCampina’s vision for 2020. I am really looking forward to working closely with Engro Corporation, Engro Foods and the Pakistani authorities on elevating the dairy sector to provide healthy and nutritious dairy products for the Pakistani market.”
The CEO of the dairy company also said that he looked forward to working with the authorities to establish a level playing field in import and export of dairy products, “for example by ensuring realistic and competitive import charges enabling import of value-added dairy products”. This would contribute to the development of the whole country, benefiting consumers and dairy industry alike, he added.
Highlighting the importance of the partnership, Hussain Dawood, chairman, Engro Corporation, said, “This partnership will enable us to benefit from the organisational knowledge of FrieslandCampina which is regarded as an industry leader in the dairy category. Together with the government and FrieslandCampina we aim to enhance our dairy development outreach and accelerate our work on improving the dairy sector. I am convinced that this partnership will create tremendous long term value for a broad category of stakeholders especially the Pakistani farmer and consumer.”
The discussion further revolved around the development of the dairy sector in Pakistan through alignment of federal and provincial food laws and implementation of national standards. The meeting also discussed the need to regulate the loose milk industry, and issues such as adulteration, which were a health hazard for consumers.
They also discussed the requirement for introduction of minimum pasteurisation laws to ensure provision of nutritious and healthy milk to consumers.
In December 2016 Engro Corporation entered into an agreement with FrieslandCampina for the sale of 51 percent of the company's shareholding in Engro Foods in one of the single largest private sector foreign direct investment in Pakistan, amounting to a total $450 million.