Descon, IFC sign MoU

LAHORE: Descon, a leading engineering and construction company in Pakistan, and the International Finance Corporation (IFC) have signed a memorandum of understanding (MoU) to address the significant postharvest losses of wheat, rice, and maize in the country.

The MoU, signed under Descon’s Agri Business Line, aims to reduce the annual postharvest losses of essential grains in Pakistan, which amount to around $2 billion, according to a statement issued on Friday.

These losses contribute to food insecurity, affecting 36.8 percent of the population.

“We are excited about the potential impact of this collaboration. By modernizing infrastructure and optimizing supply chain processes, we believe we can make a substantial difference in reducing postharvest losses and enhancing the quality of staple grains for the people of Pakistan,” Faisal Dawood, vice chairman of Descon said.

The collaboration underscores a commitment to an inclusive approach, leveraging private sector initiatives to positively impact Pakistan’s agricultural sector, the satatement said. By addressing the root causes Descon and IFC aim to create sustainable solutions for long term food security in the country.

Descon has embarked on a diversification into the agricultural sector, reflecting the company’s visionary approach. With a steadfast commitment to empowering small-scale farmers, Descon aims to play a pivotal role in transforming the agricultural landscape.

The company envisions fostering sustainable practices and enhancing productivity within the agricultural community. Through this diversification, Descon aspires to make meaningful contribution to the betterment of small-scale farmers, promoting economic growth, and ensuring food security in the country.