Qatar To Invest $2 Billion In Cattle Meat Projects

Society Pakistan & World Affairs
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Qatar to invest $2 billion in cattle meat projects

AFTAB MAKEN

ISLAMABAD (November 02 2006): Qatar is willing to invest about $2 billion in cattle fattening and establishing slaughterhouses in Pakistan, it is learnt. Sources in the Ministry of Food, Agriculture and Livestock (Minfal) told Business Recorder on Wednesday that Qatar would make this huge investment to explore untapped potential of milk and meat production.

A delegation, led by Qatari officials has requested Minfal to identify locations for setting up slaughterhouses. The Qatari Prime Minister would formally sign an agreement with government and private sector shortly, they added.

“We have informed the Board of Investment (BOI) and Prime Minister Secretariat about Qatar’s intention for investing in meat production”, an official told this correspondent. Qatar would invest in meat fattening, poultry breeding and meat and poultry processing units.

After meeting the domestic requirements, meat would also be exported to Middle East and European markets, he added. Meanwhile, the Livestock and Dairy Development Board (LDDB) signed a Memorandum of Understanding (MoU) with ‘Grazing Grounds’, Karachi, to provide technical assistance to the private sector to establish a large sheep and goat farm for meat production on main Karachi-Hyderabad Super Highway.

According to official statement, the private sector firm would also be establishing a state-of-the-art slaughterhouse, along with cold storage facilities,** to provide hygienic quality meat to local consumers as well as for export.**

The livestock farm would be established over 1000 acres land, with both breeding and fattening facilities for the animals. Total investment in the project would be Rs 1.4 billion, and the project is expected to fatten 175,000 animals, producing about 5250 tons additional meat annually.

The LDDB was established as a private sector company under section 42 of Companies Act and is registered with SECP. It is mandated to promote and facilitate livestock, meat, dairy and poultry development in the country. The company will be executing two livestock development projects worth Rs 3.2 billion, to be funded by the federal government for improvement of milk and meat production in the country.

The signing ceremony was attended by, Federal Minister for Food, Agriculture and Livestock Sikandar Hayat Khan Bosan and Minfal Secretary Ismail Qureshi.

http://www.brecorder.com/index.php?id=4920…m=&supDate=

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Re: Qatar To Invest $2 Billion In Cattle Meat Projects

Yet another article claiming a multi-bilion dollar investment

If only even half these article's were true!!!

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Re: Qatar To Invest $2 Billion In Cattle Meat Projects

So you are saying that the Qatari's have never mentioned a plan to invest multi-billion dollars in Pakistan, as mentioned in the article?

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Re: Qatar To Invest $2 Billion In Cattle Meat Projects

Billions and billions are flooding into Pakistan from all over the world - the figures bear it out.

http://www.dailytimes.com.pk/default…-10-2006_pg5_2

Foreign investment up 137.6% in Q1

The total foreign investment in the country went up by 137.6 percent to $1.149 billion in July-September 2006-07 compared with only $483.7 million received in the same period last year. The portfolio investment, which was slow since the beginning of the current fiscal year, further declined in July-September 2006-07 to $120.6 million, down by 16 percent compared with that in the same period of 2005-06. Direct investment in the country shot up by 203 percent in July-September 2006-07 to $1.029 billion against $338.7 million last year. According to the figure released by the State Bank of Pakistan on Monday, the telecommunication sector received an amount of $133.2 million from the United Arab Emirates in September this year. “It must be an installment against the privatization of Pakistan Telecommunica-tion Company (PTCL),” an analyst said. “There has been instability in the local stock market for the last few months and it has been the main hurdle to foreign investment,” the analyst said. “The direct investment figures are encouraging for the country,” said the analyst. “The country has received an amount of $1.149 billion in last three months, which shows that the government would easily achieve its FDI target of $4 billion for the current fiscal year,” he added. In the outgoing fiscal year, the State Bank of Pakistan (SBP) had received total foreign investment of $3.872 billion.

International donors agencies are pressuring the government to privatize public-sector entities to raise FDI. Recently the Privatization Commission has announced to hold Global Depository Receipts (GDR) of the government’s holdings in National Bank of Pakistan, Habib Bank, Allied Bank and oil exploration company Oil and Gas Development Company to raise foreign investment. The government has announced it would sell GDR through the London stock market by the end of this calendar year. Portfolio investment from the USA declined to $34.7 million in July-Sept 2006-07 compared with the $88.2 million in July-Sept last year. Major investment in the local bourses was from Singapore, which stood at $46.6 million in July-Sept 2006 compared with $0.1 million in the same period last year. The European Union made an investment of $70.2 million in the last three months compared with $35.2 million in the same period last year. The United Kingdom invested $67.9 million in the last three month, while such investment stood at $38.3 million in the same period last year. Direct investment from western Europe and the European Union has gone up to $447.2 million and $413 million, respectively. Major inflows of foreign investment of $282.7 million have been received into the financial business: $325 million in the telecommunication sector, $42.8 million in thermal power and $161.8 million in oil and gas exploration.

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Re: Qatar To Invest $2 Billion In Cattle Meat Projects

I think its great news any huge FDI projects are great for the economy long may we attract such investment!