KARACHI: Pakistan’s southeastern Sindh province has successfully completed a pilot oil palm cultivation and extraction project, putting the country on the list of palm oil producers. An oil extraction facility at the site of the pilot oil palm plantation in the province’s southern Thatta district produced its first oil last week.
Is palm oil extraction a good idea in Sindh?
“The palm oil extraction is being done as a test run at the moment and the results are wonderful and very encouraging,” Muhammad Aslam Ghouri, secretary of Sindh’s Environment, Climate Change and Coastal Development which is running the project, told Arab News on Friday.
Where does Pakistan import palm oil?
Pakistan imports Palm Oil primarily from: Indonesia ($2.84B), Malaysia ($518M), United Arab Emirates ($1.05M), Singapore ($359k), and Thailand ($264k). The fastest growing import markets in Palm Oil for Pakistan between 2020 and 2021 were Indonesia ($1.22B), Singapore ($359k), and Thailand ($264k).
Did Saudi Arabia and UAE deposit $1 billion in Pakistan’s Central Bank?
Soon after the IMF deal, Pakistan received $2 billion from Saudi Arabia and the UAE deposited $1 billion in Pakistan’s central bank. “Saudi and UAE deposits and their interest to set up a refinery and interest in the mining sector and state-owned entities have resulted in bullish sentiments in the market,” Nawaz added.