South Punjab Forest Company
A Public Sector Company registered under Section 42 of the Companies Act, 2017
South Punjab Forest Company (SPFC) in collaboration with the Islamabad Chamber of Commerce and Industry (ICCI) organized an inception seminar at ICCI, to sensitize the members of ICCI and potential investors regarding the opportunities in the forestry sector.
December 15, 2016: South Punjab Forest Company (SPFC) in collaboration with the Islamabad Chamber of Commerce and Industry (ICCI) organized an inception seminar at ICCI, to sensitize the members of ICCI and potential investors regarding the opportunities in the forestry sector. The seminar began with a welcome address by Tahir Ayub, Vice President, ICCI, who thanked the participants and appreciated the role of SPFC in promoting sustainable forestry investments in Pakistan.
According to Tahir Ayub, ‘We firmly believe that SPFC will play an important role in reducing the debt in balance of trade by providing sustainable farmed wood to the wood-based industry. This will also help to save the existing forests of Pakistan’, he added.
It was followed by a presentation by Tahir Rasheed, CEO, SPFC, on Investment Opportunities in Forestry Sector in South Punjab. He informed the participants about the various kinds of forests that exist in Pakistan, which includes arid sub-tropical forest; dry sclerophylous and tropical deciduous forest, dry temperate coniferous, Himalayan moist temperate forest, mangroves, alpine meadows, alpine dry steppe, sub-tropical pine forest and tropical thorn forest.
While informing the participants about global forestry investments, Tahir Rasheed said, ‘The total investable and leasable global forestlands are estimated to be over 870 million hectares, which worth more than US $ 480 billion. Moreover, global forestry investments are increasing at 20 per cent annually over the past 20 years, which clearly indicates that forestry sector offers low risk with high returns.’
Tahir Rasheed further told that SPFC has been mandated to promote afforestation on 134,995 acres of allotted land across six districts of South Punjab, which includes, Bahawalpur, Bahawalnagar, Rahim Yar Khan, Rajanpur, Muzaffargarh and D.G. Khan. The initiative will ensure that the investment is capable of sound financial performance for 15 years. This will be further extended to another 15 years, if the investor adheres to the agreement.
The presentation was followed by Q&A session. The business community suggested to increase the lease time period to 30 years and also asked for tax rebate for the wood-based industry. Tahir Rasheed affirmed to incorporate their suggestions in the upcoming feasibility study.
Tahir Ayub, Vice President, ICCI, gave the concluding remarks and hoped that the initiative will bring a green revolution, create green jobs and contribute to the GDP.
More photos of this event can be found here.
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