LAHORE - Mashhad Meat Industrial Complex, an Iranian-based company, filed a suit against Punjab Agricultural & Meat Company (PAMCO) for not fulfilling its agreements and claimed Rs 2.731 billion as compensation here on Wednesday.

Syed Majid Moussavi, the Chief Executive Officer of Mashhad Meat Industrial Complex, Iran, through his counsel advocate Mustafa Ali Sabzwari filed the suit against Punjab Agricultural & Meat Company (PAMCO).

The plaintif’s counsel Mustafa Ali Sabzwari submitted that PAMCO authorities did not fulfil all agreements signed between both the companies. The counsel said during the official visit of Punjab Chief Minister Shahbaz Sharif to Iran in 2010, the company was allured to sign an agreement of establishing a meat company in Pakistan.  He submitted that three different agreements were signed between the company and Punjab government and both parties were agreed to enter into a joint venture agreement on May 12, 2005 wherein it was decided to establish a modern slaughterhouse at Shahpur Kanjran. Punjab government through its Chief Minister Shahbaz Sharif signed three different agreements with Iranian company Mashhad Meat Industrial Complex according to which the Iranian company was bound to fully cooperate with the Pakistani government to establish the company, to facilitate smooth supply of the required machinery and equipment for the joint venture and to provide all technical services consultancy, said the counsel.

He said that the company performed its obligation under the agreement. He said that the meat company was established and made functional totally with the services of plaintiff company but the respondent did not pay the decided sum.

The petitioner said the PAMCO authorities also did not pay the company even for its technical services worth Rs 41,393,406. He alleged that PAMCO broke all signed agreements with the company and failed to establish a joint venture company and fund as well as failed to provide consultancy fee services provided by the plaintiff. The petitioner prayed to the court to direct the PAMCO authorities to pay the company Rs 2.731 billion as fee and compensation broken agreements.