Investment in forest sector can create the essential opportunities and it can raise the annual Gross Domestic Production of Pakistan, this was expressed by speakers on Tuesday at a seminar organised by South Punjab Forest Company (SPFC) with collaboration of Lahore Chamber of Commerce and Industry in Lahore.
The aim of the seminar was to sensitize the potential investors toward opportunities related to the forestry sector.
Chief Executive Officer (CEO) SPFC Tahir Rashid told the participants that eco-regions of Pakistan and quoted the 2015 study by Food and Agriculture Organisation (FAO), according to which, Pakistan has a total area of 1,472,000 hectares, (ha) and witnessing deforestation at an alarming rate of 2.1 per cent from 1990 to 2015 on an average.
“SPFC aims to afforest the 134,995 acres of allotted land in D.G. Khan and Bahawalpur Civil Divisions, which comes under Punjab Forestry, Wildlife and Fisheries Department. By promoting commercial forestry in the area, green jobs in rural areas will be created and logging pressure on existing forests will be reduced” Tahir said.
Tahir Rasheed further informed, “Sustainable forestry investments offer low risk with high returns. The sustainably farmed wood can be supplied to the national wood-based industry, which will subsequently reduce dependence on imported wood, eventually reducing the budget deficit.” He assured that SPFC will ensure that the land is free from any encroachments and timber mafia.
Abdul Basit, president of LCCI, urged the business community to invest in the forestry sector for a sustainable future. According to him “Forest-based investments can lead to tremendous growth and opportunities that are essential for competing in an interconnected world. The chamber will play its role in promoting this idea and advocates any policy solutions that drive economic growth, spur innovation and create jobs.”
