LAHORE: The South Punjab Forest Company (SPFC) has invited the business community to explore investment opportunities in the forestry sector in south Punjab which offers one of the highest returns to the prospective investors.
SPFC Operations Director Hafiz Muhammad Owais, said this while giving a detailed presentation on investment opportunities in afforestation in south Punjab, a statement by ICCI said on Monday.
He said that the Punjab government has earmarked over 99,000 acres of land for afforestation and range management in five districts of Punjab which are Bahawalpur, Rahim Yar Khan, Rajanpur, Muzaffargarh and Dera Ghazi Khan.
He said that the SPFC would support the investors in obtaining sanctioned canal water from the irrigation department.
Owais said that investment in this sector would curb deforestation in Punjab and promote sustainable economic development of the country. He asked the business community to take full advantage of these lucrative opportunities by investing in the forestry sector.
Speaking at the occasion, ICCI Senior Vice President Khalid Malik said that the forest area in Pakistan had decreased from 3.3 per cent of total area in 1990 to just 1.9 per cent of total area in 2015, which was alarming.
In comparison, forest area was 22 percent of total area in China and 23 percent in India. He said that the depleting forest cover in Pakistan showed that the country was heading towards serious deforestation which would entail harmful consequences for the overall economy.
He stressed the government to formulate new policies and offer attractive incentives to investors for investment in the forestry sector. He also appreciated the initiative of the Punjab government for establishing the SPFC to promote public and private sector investments in the forestry sector so that deforestation could be reduced in the province.
He assured that the ICCI would play its role for highlighting the package of Punjab government for afforestation in south Punjab, so that the forest cover in the province could be further enhanced to ensure healthy and sustainable eco system for economic activities.
