ISLAMABAD, Sep 14 (APP):Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Monday welcomed the interest of International Foodstuffs Company (IFFCO) in expanding its investment and business operations in Pakistan, assuring the UAE-headquartered multinational of the government’s continued support and facilitation. The minister held a meeting with an IFFCO delegation led by Global Group Director Abdelghani Abdullah and IFFCO Pakistan CEO Arshaduddin Ahmed. CFO Muhammad Jawad, UAE Embassy Head …
Finance Minister meets IFFCO Group delegation, disscusses investment expansion and business Flfacilitation
ISLAMABAD, Sep 14 (APP):Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Monday welcomed the interest of International Foodstuffs Company (IFFCO) in expanding its investment and business operations in Pakistan, assuring the UAE-headquartered multinational of the government’s continued support and facilitation.
The minister held a meeting with an IFFCO delegation led by Global Group Director Abdelghani Abdullah and IFFCO Pakistan CEO Arshaduddin Ahmed. CFO Muhammad Jawad, UAE Embassy Head of Protocol Department Khalil Ahmed Awan and Economic Researcher Kanwal Asim also attended the meeting, according to a press release.
Aurangzeb appreciated IFFCO’s longstanding investment and contribution to Pakistan’s food and manufacturing sectors, noting the company’s role in supporting local employment, manufacturing and allied industries. He also welcomed its continued engagement with the country and its plans for further expansion.
Abdelghani Abdullah briefed the minister on IFFCO Group’s global operations and its longstanding presence in Pakistan. He said the UAE-based multinational operates in around 50 countries and has a diversified portfolio covering food manufacturing, edible oils and fats, confectionery, dairy, agriculture, poultry and animal nutrition.
The delegation said Pakistan remained an important market for the group and reaffirmed its intention to continue investing and expanding its business in the country. Abdullah also highlighted IFFCO’s contribution to food security through its presence in international markets and various segments of the food supply chain.
The delegation further briefed the minister on IFFCO Pakistan’s operations and investment footprint, stating that the company had been operating in the country since 2006 and had invested around $100 million. From a single oil and fats refinery, the company has expanded to two refineries and five manufacturing sites.
Over the years, IFFCO Pakistan has also diversified its operations into seed crushing, animal nutrition and feed mills, contributing to employment, local value addition and the broader food supply chain.
The delegation expressed interest in further expanding investment in Pakistan, particularly in view of the growth potential of the domestic industrial and food sectors. It noted that IFFCO supplies products to major companies operating in Pakistan and sees opportunities to grow alongside its customers and the wider economy.
The finance minister said the government attached importance to facilitating existing investors while creating an environment conducive to new investment, industrial growth, employment generation and greater value addition within the country.
Aurangzeb also appreciated the UAE Embassy’s support in strengthening economic and commercial ties between Pakistan and the UAE. He described bilateral relations as longstanding and strategic and expressed confidence that economic and investment cooperation between the two countries would continue to deepen.
Abdullah appreciated the government’s support and reaffirmed IFFCO’s long-term commitment to Pakistan, expressing confidence in further strengthening the company’s operations and investment footprint in the country.
