Pakistan Vanaspati Manufacturers’ Association (PVMA) in its 72nd Annual General Body’s meeting held on Wednesday, at Islamabad has elected new set of office-bearers, who will assume their office w.e.f. October 1. Khawaja Arif Qasim, a Lahore-based leading industrialist, has been elected un-opposed as Chairman for year 2015-16. Likewise, Atta Ur Rehman and Wazir Ali Pardhan elected for the slot of Sr Vice and Vice Chairman respectively.
In his maiden speech Khawaja Arif Qasim reiterated the importance of industrial sector in job creation and provision of vegetable Ghee/Cooking oil (a staple food item) to masses at affordable price without any interruption. He also spelled out guiding principles encompassing his strategy and sought assistance from leading players and in turn was awarded full support from the house.
It is worth while to note that PVMA leads the edible oil sector of Pakistan, whose annual imports of 2.3 million tones exceeds a bill of $1.8 billion per annum. Likewise, the manufacturing sector consumes the edible oil extracted from local and imported oil seeds to the tune of $1.3 billion. Hence, cumulatively the sector’s annual turnover hovers around Rs 600 billion per year. The sector, directly and indirectly, contributes over Rs 100 billion to the national exchequer as well in the shape of duty/taxes and other levies.-PR