In a landmark economic development, FFC Pakistan acquired Al Hamd Foods Ltd Stakeholders and investors keenly observed the signing of acquisition documents by company secretary FFC in a graceful ceremony. The ceremony was attended by ChaudhryKhursheed CEO Al Hamd Food, Lieutenant General Naeem Khalid Lodhi (Retd) CE & Managing Director FFC, Mr Rashid Khan and other key officials.
This acquisition adds Pakistan”s first state-of-the-art Individually Quick Frozen (IQF) Fruits and Vegetables plant to FFC”s already diversifying business portfolio. Having pioneered in fertiliser, financial and energy businesses of national significance, FFC is set to create headways in food processing technologies. At one end, this forward integration is attributed to food security. On the other end, it promises gateways of global access for Pakistan”s agricultural produce.
Capitalising on FFC”s nation-wide farmers-network, the new line of business is expected to integrate farmers, marketers and exporters. With expected GSP plus status for Pakistan in December and other trade access linkages, this critically-timed power move is also anticipated to increase inflows of foreign exchange. As the stock price of FFC Al Hamd surges, the linked socio-economic multipliers are likely to mitigate perishability, increased profitability and more livelihood creation. Technical experts are predicting that introduction of IQF by FFC Al Hamd Foods will jump the national curve for agricultural products with respect to international quality standards as well as need for bumper crop volumes.
