Fatima Group, one of Pakistan’s fastest-growing industrial conglomerates, has signed two memorandums of understanding (MOUs) worth more than $1 billion with two key global agriculture stakeholders – China
Machinery Engineering Company (CMEC) from China and Sarh Attaqnia Co. (SAC) from the Kingdom of Saudi Arabia.
The business partnership was formally signed at the Pakistan Pavilion during the ongoing Agriculture Week at Expo 2020 Dubai.
The Fatima Group is spearheading the initiative to transform Pakistan’s agriculture into the world’s food basket.
They have been dubbed Pakistan’s fastest-growing industrial conglomerate, with revenues exceeding $1 billion in industries such as fertilizers, energy, textiles, sugar, cement, and venture capital investments.
Mian Fawad Ahmed Mukhtar, Chairman of Fatima Group and CEO of Fatima Fertilizer Company Limited, stated, “As chairman of a leading Pakistani conglomerate, it is my vision to bring modern precision farming to Pakistan.
We as a country are blessed with immense potential, and I strongly believe that with the right partners, we can create a big difference not just for Pakistan’s food security but the entire regions. We are grateful to our Chinese and Saudi counterparts who have put their trust and faith in us.
I am hopeful that this landmark will lead to many more such partnerships and investment opportunities for the future.”
As a technology partner, China’s CMEC will assist Pakistan in the adaptation of climate-smart precision agriculture farm machinery, improved high-yielding seeds, and other crop inputs.
Similarly, Saudi Arabia’s Sarh Attaqnia Company is a key partner that will invest in developing a cutting-edge agriculture value chain that includes sustainable grain crop production, processing, warehousing, and export marketing to help ensure regional food security.
Agriculture accounts for more than 20% of Pakistan’s GDP and employs approximately 64% of the workforce.
Under the Corporate Agriculture Farming initiative, this collaboration has the potential to unlock a significant amount of Pakistan’s untapped land resources by bringing fallow lands under cultivation for the sustainable production of crops such as rice, barley, oats, silage bales for livestock, and dairy industry.
Fatima Group, in collaboration with the Trade Development Authority of Pakistan, is holding a series of events at the Pakistan Pavilion in Expo 2020 Dubai over the next four days to demonstrate its commitment to ensuring regional food security, agricultural innovation, and women empowerment in Pakistan’s agriculture sector.
To read our blog on “Fatima Group signs MoU with Telenor Microfinance Bank to promote financial inclusion amongst local farmers,” click here.
