‘Food sector should get zero-rated facility for global share’

LAHORE: Pakistan’s food sector 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.

In a statement issued on Tuesday, LCCI President Abdul Basit and Vice President Muhammad Nasir Hameed Khan said that Pakistan exports halal food of over $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 in the list of top-10 halal meat exporters, although Pakistan has a big potential of exporting halal meat globally,” they said.

With little efforts, Pakistan could easily grab the international halal food market and could triple exports of this particular sector.

The global halal food market is becoming one of the fastest growing markets, they said, adding that despite having best strategic position, dynamic halal food sector and direct gateway to the millions of consumers in Central Asia and the Middle East, Pakistan’s share in the 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.

Pakistan has the potential to become superpower of halal industry since it has all the required ingredients and potential, they said, adding that Pakistan has the ability and potential to capture a sizeable portion of the world halal food industry and the existing volume of exports is no match to Pakistan’s annual output of halal food.

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.

The zero-rated facility to halal food sector could help Pakistan dominate in the flourishing market of halal products because of its quality products, they added.