ISLAMABAD - A good news for the local business sector came this week when Cargill — a global food corporation that deals with purchasing and distribution of food commodities and trades in energy, steel and transport — announced a partnership with Fauji Foundation, taking a minority stake in the Fauji Foundation Grain Terminal at Port Qasim. Cargill has been doing business in Pakistan since the mid 80s and is now looking for further growth and expansion.
“We have made a commitment to growth in the country. The acquisition of a stake in the Fauji Foundation Grain Terminal is a step in that direction and a reflection of the strategic intent of Cargill to expand its presence in Pakistan,” Imran Nasrullah, the country president of Cargill said Thursday in an exclusive interview with The Nation. “Pakistan has challenges like any other developing country where we operate, and those challenges are no more or no less significant. We remain cautious of the environment but the market opportunity and the opportunity to do the right thing and add value to Pakistan is significant. We think that there is no better time to doing things than now, “ Mr. Nasrullah said. “Things are looking good for the country. Many signs are good.”
Pakistan is a big market with a large population that is consumption focused. The middle-class growth and the ease of technology has changed the consumption patterns of the population and a whole new consumer has emerged in Pakistan. Many industries in Pakistan like the dairy, poultry and edible oils are at the cusp of expansion and Cargill believes its global experience will add value to these industries making them more competitive.