Support price can double edible oil production, cut import bill

Edible oil import bill is ranked second on Pakistan's import expenses list after petroleum products, however, it can be cut drastically by enhancing local production in a coordinated manner and on a war-footing.

President, All Pakistan Oil Mills Association (APOMA), Khawaja Muhammad Faazil told APP on Monday that Pakistan imports edible oil to meet 75 per cent of its domestic requirements annually and 94 per cent of it is palm oil.

Despite being an agriculture rich country, Pakistan is the fourth largest importer of edible oil, APOMA president said adding it should be a point of concern for agriculture researchers.

Khawaja, however, added that Pakistan can improve a lot in just two to three years provided support price for all oil seed crops is announced and purchase of the whole production is ensured for farmers' encouragement.

Moreover, special cultivation zones be demarcated for promotion of oil seed crops and skill development programmes should be launched all over the country. An investment in Pakistani Rupee at home would save billions in US Dollars, Khawaja Faazil said.

(APP)