ISLAMABAD: The Pakistan Economy Watch (PEW) has asked government to take steps to enhance Pakistan’s penetration in 3 trillion dollar international halal market in which its share is negligible despite the fact Pakistan has a huge potential for it.
Non-Muslim countries have dominated the halal market which is growing at the rate of 17 percent every year while Pakistan halal exports can be more than textiles exports in five years if proper attention is paid, told Dr. Murtaza Mughal, President PEW
He said that out of Pakistan’s meat exports 80 percent goes to Middle Eastern market which is not as controlled as that of USA and European Union therefore it faces reduced threat of sanctions. It is surprising that Pakistan meat exports to UAE is less than what Ethiopia exports to the country which is astonishing, he said.
Government policymakers should pay attention to sectors other than textiles and best sector to gain firm position in international halal market is Pakistan’s Rs 700 billion poultry sector, he said. The poultry sector which increases upto a volume of Rs 700 billion is now decreasing due to bad attitude of policy makers, absence of proper incentives and need of a regulator.
Dr. Murtaza Mughal said that poultry consumption in Pakistan is 6.5 kg per person, ten times lower than the developed countries. On the other hand, a common Pakistani still consumes three times more meat than the Indian persons.
He said that despite hit by organized demonstrations and recent petrol crisis, prices of poultry haven’t climbed in the local market as compared to meat and beef and establishment of regulator can help enhance exports and ensure cheaper prices at home.