ISLAMABAD (Reuters) - Food and agriculture group Cargill Inc will invest some $200 million in Pakistan over the coming three to five years in sectors ranging from dairy, to edible oils and animal feed, the prime minister’s office in Islamabad said on Thursday.
“Cargill’s proposed investments will support Pakistan’s overall economic development and contribute to local employment,” it said in a statement following a meeting between company executives and Prime Minister Imran Khan.
The announcement comes as Pakistan, grappling with a severe squeeze on its foreign exchange reserves, has stepped up efforts to stabilze its economy and attract international investors.
Privately owned Cargill will expand its operations across the agricultural trading and supply chain, edible oils, dairy, meat and animal feed, the government statement said.
Reporting by James Mackenzie, Editing by William Maclean