February 22, 2015 (PPI-OT)
Following is the text of press release issued by Pakistan Economy Watch (PEW)
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The Pakistan Economy Watch (PEW) on Sunday asked government to take steps to enhance Pakistan’s penetration in three trillion dollar global halal market in which its share is negligible despite potential. Non-Muslim countries have dominated the halal market which is growing at the rate of 17 percent per annum while Pakistan halal exports can surpass textiles in five years if proper attention is paid, said Dr. Murtaza Mughal, President PEW.
In a statement issued here today, he said that out of all Pakistan’s meat exports 80 percent goes to Middle Eastern market which is not as regulated as that of USA and EU therefore it faces reduced threat of sanctions. However, Pakistan meat exports to UAE is less than what Ethiopia exports to that country which is amazing, he said.
Policymakers should pay attention to sectors other than textiles and best sector to gain foothold in international halal market is Pakistan Rs 700 poultry sector, he said. The poultry sector which expanded to Rs 700 billion is now contracting due to indifferent attitude of policy makers, absence of incentives and want of a regulator.
Dr. Murtaza Mughal said that per capital poultry consumption in Pakistan is 6.5 kg, ten times lower than the developed countries but a common Pakistani still consumes three times more meat than their Indian neighbours. He said that despite hit by sit-ins and recent petrol crisis, prices of poultry haven’t not climbed in the local market as compare to meat and beef and establishment of regulator can help enhance exports and ensure cheaper prices at home.
For more information, contact:Dr. Murtaza MughalPresidentPakistan Economy Watch (PEW)402, 4th Floor, Gulistan Khan House, Fazal-e-Haq Road,82-East, Blue Area, IslamabadTel: +92-51-2510375Fax: +92-51-2802449Cell: +92-321-5157671Email: president@pakistaneconomywatch.comWeb: www.pakistaneconomywatch.com
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