The Sindh Board of Investment (SBI) has announced their plans to build Pakistan's first Halal industrial park. The park, which will be based in Karachi, is to be built with technical assistance from the Halal Industry Development Corporation, which is based in Malaysia.
The project will look to take in a number of pre-existing industrial zones in an effort to reduce costs, and a group of delegates from Malaysia appeared at the Karachi Expo Centre between March 22nd and 23rd to share their expertise in the development.
The park marks the first collaboration between the Malaysian and Pakistani government in the halal sector, and Pakistan is believed to have huge potential to become a part of the $1.3 trillion halal market.
At present Australia, Brazil and Thailand possess 80 per cent of the market share.
Commenting on the global market, Adviser to Sindh Chief Minister on Investment Zubair Motiwala, "We should have made our mark in this market, as not many Muslim countries have developed their Halal industry.
"Pakistan can phenomenally increase its pharmaceutical and food exports, if it acquires Halal certification, as this will lead to higher acceptability in international markets."