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BoI directed to increase storage capacity of agri crops
ISLAMABAD-The federal government has directed the Board of
Investment (BoI) to involve private sector for increasing
storage capacity of various agriculture crops in the
country.“The private companies have submitted Expression of
Interest (EOI) to ensure their full participation in enhancing
storage facilities meant for various agriculture crops,”
sources in BOI told The Nation soon after a crucial meeting
held here on Monday. Commerce Minister Abdul Razak Dawood,
Agriculture Minister Khair Mohammad Junejo, Chairman Board of
Investment Waseem Haqqi and other senior level officials
attended the meeting.
“We have received EOI from private 18 companies and we have
granted them one-month to finalize terms and condition to
proceed further in this connnection,” the participants noted.
The private sector showed reluctance to come forward for
building storage capacity mechanism with their own investment
and thus the government decided to provide them state “owned
facilities on rental basis to attract them into this business
at initial stage.
“The government has decided to provide 5 lakh ton storage
facilities to private sector at initial stage,” the sources
said. It was informed during the meeting that Pakistan
Railways and the Punjab government were also ready to provide
storage infrastructure on rental and lease basis to private
sector but “there is need of further deliberation in this
regard”. The meeting also decided that the government would
encourage the private sector for developing infrastructure
including construction of silos. “It was further decided that
BOI would prepare a policy paper to encourage private sector
for instruction of increased storage capacity,” stated a Press
release issued after the meeting.
The meeting also decided to encourage PASSCO and TCP to pick
wheat stocks of Sindh and Balochistan. It was further decided
to sell 100,000 tons of wheat to the Utility Stores
Corporation (USC) at the tender price of Rs 8000/per metric
ton without any claim of loss.
The sources said that the agriculture sector was facing
immense problems due to lack of storage capacity and the
military government intended to take effective steps to build
required infrastructure as early as possible. “The private
sector will be involved in this process with the begining of
next calendar year and every thing will be finalized soon in
this regard,” an official of BOI told this scribe.
The government considers it important to come up storage
capacity which will certainly give boost to agri-related
exports in current fiscal year. It will also help the farmers
reduce their growing miseries as the government wants to
protect their interests.
December 6, 2001
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