Islamabad: Descon (under its Agri Business Line) and the International Finance Corporation (IFC) have signed a Memorandum of Understanding (MoU) to address Pakistan’s high postharvest losses of wheat, rice, and maize.
This strategic cooperation intends to alleviate Pakistan’s yearly postharvest losses of critical grains, which amount to almost $2 billion. These losses add to food insecurity, which affects 36.8% of the population. The relationship demonstrates a commitment to an inclusive approach, utilizing private sector initiatives to benefit Pakistan’s agriculture economy. By tackling the core issues, Descon and IFC want to build long-term solutions for the country’s food security.
Descon has diversified into agriculture, demonstrating the company’s forward-thinking approach. Descon’s unwavering dedication to helping small-scale farmers positions it to play a critical role in altering the agricultural landscape. The company intends to promote sustainable practices and increase production in the agricultural community. Descon hopes that this diversification would help to improve the lives of small-scale farmers while also boosting economic growth and guaranteeing food security in the country.
Faisal Dawood, Vice Chairman of Descon, commented, “We are excited about the potential impact of this collaboration.” We believe that by updating infrastructure and streamlining supply chain operations, we can significantly reduce postharvest losses and improve the quality of staple grains for the Pakistani people.”
