ISLAMABAD- Domestic production of edible oil is increasing cutting into foreign exchange spending on imports but its pace is not satisfactory, an industry official said today.

In a meeting with stakeholders, Atif Ikram Sheikh, Pakistan Vanaspati Manufacturers Association (PVMA) Chairman, expressed the belief that the country should strive to deliver better products at affordable rates and make Pakistan self-sufficient in edible oil production.  

He also asked the government to pay attention to this industry to create employment opportunities, gain revenue and save over two billion dollars per annum.  He urged more Indonesian and Malaysian companies to collaborate with the Pakistani companies in developing other areas in the edible oil trade.

Atif informed that Pakistan imported 2.2 million tonnes in 2013, adding that imported oil was meeting around 65 percent of demand. Pakistan’s total demand for the edible oil stands at 3.2 million tonnes.