Fatima Group, one of Pakistan’s fastest-growing industrial conglomerates, has inked two USD1 billion memorandums of understanding with two significant global agriculture stakeholders: China Machinery Engineering Company (CMEC) from China and Sarh Attaqnia Co. (SAC) from Saudi Arabia.
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In conjunction with Expo 2020 Dubai’s ongoing Agriculture Week, a formal signing of the commercial agreement took place at the Pakistan Pavilion. The Fatima Group is leading the charge to transform Pakistan’s agriculture into a global food basket. With over $1 billion in revenue in industries like fertilisers, energy, textiles, sugar, cement, and venture capital investments, they’ve been dubbed Pakistan’s fastest-growing industrial behemoth.
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“It is my aim, as head of a major Pakistani corporation, to bring modern precision farming to Pakistan.” We as a country have enormous potential, and I am confident that with the proper partners, we can make a significant difference not only for Pakistan’s food security, but for the entire region’s as well. We appreciate the trust and faith that our Chinese and Saudi counterparts have placed in us. “I am certain that this milestone will pave the way for many more such collaborations and investment opportunities in the future,” said Mian Fawad Ahmed Mukhtar, Chairman of the Fatima Group and CEO of Fatima Fertilizer Company Limited.
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In Pakistan, CMEC will assist in the adaptation of climate-smart precision agricultural farm machinery, improved high-yielding seeds, and other crop inputs as a technical partner. Furthermore, Sarh Attaqnia Company is a crucial partner that will invest in building a cutting-edge agriculture value chain that includes sustainable grain crop production, processing, warehousing, and export marketing to assist secure regional food security.
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Agriculture accounts for nearly 20% of Pakistan’s GDP and 64% of the country’s people resources. Under the Corporate Agriculture Farming initiative, this collaboration has the potential to unlock a tremendous amount of Pakistan’s untapped land resources by bringing fallow lands under cultivation for sustainable production of crops like rice, barley, oats, silage bales for livestock, and dairy industry. Over the next four days, Fatima Group, in collaboration with the Pakistan Trade Development Authority, will host a series of events at the Pakistan Pavilion at Expo 2020 Dubai, demonstrating its commitment to ensuring regional food security, agricultural innovation, and women empowerment in Pakistan’s agriculture sector.
