In a groundbreaking initiative aimed at addressing the significant postharvest losses of wheat, rice, and maize in Pakistan, Descon (under its Agri Business Line) and the International Finance Corporation (IFC) have officially signed a Memorandum of Understanding (MoU).
This strategic alliance aims to address the yearly postharvest losses of essential grains in Pakistan, amounting to around USD 2 billion. These losses contribute to food insecurity, affecting 36.8% of the population. The collaboration underscores a commitment to an inclusive approach, leveraging private sector initiatives to positively impact Pakistan’s agricultural sector. By addressing the root causes Descon and IFC aim to create sustainable solutions for long term food security in the country.
Descon has embarked on a diversification into the agricultural sector, reflecting the company’s visionary approach. With a steadfast commitment to empowering small-scale farmers, Descon aims to play a pivotal role in transforming the agricultural landscape. The company envisions fostering sustainable practices and enhancing productivity within the agricultural community. Through this diversification, Descon aspires to make meaningful contribution to the betterment of small-scale farmers, promoting economic growth, and ensuring food security in the country.
Faisal Dawood Vice Chairman of Descon stated, “We are excited about the potential impact of this collaboration. By modernizing infrastructure and optimizing supply chain processes, we believe we can make a substantial difference in reducing postharvest losses and enhancing the quality of staple grains for the people of Pakistan.”
Descon, a leading player in the industry, brings its expertise and resources to the table, aligning with IFC’s global reputation for fostering impactful initiatives.