Category: Business

Lahore (Muhammad Yasir) Nestlé Pakistan Limited reported its annual results for 2021, continuing its journey towards recovery during 2021 with a revenue growth of 12.2% as compared to 2020. The company reported its operating performance at the end of its Board of Directors’ meeting at the Company’s Head Office.

Gradual resumption of economic activities during the year helped the company to ensure undisrupted supply and availability of products, numeric distribution expansion and continue with innovation and renovation initiatives supported by investments behind the brands. Volume growth, cost savings initiatives across the value chain and portfolio and pricing management contributed to the improvement in profitability.

The 2021 launches included coffee products in Ready to Drink and 3in1 ranges, new sparkling drinks under its premium NESTLÉ FRUITA VITALS brand, EVERYDAY KASHMIRI CHAI, introduction of NESTLÉ PURE LIFE ACTIVE in 5-gallon format, NIDO GUFs Nutritods with No Added Sucrose and a number of products by Nestlé Professional.

The Board of Directors has recommended to pay final cash dividend of Rs.­­­ 281.55 per share as compared to Rs. 195.91 per share in 2020.

The Company expects inflation to remain high and challenges posed by record high commodity prices and global supply chain disruptions to continue in 2022. These coupled with recently imposed taxation measures are likely to have an adverse impact on the already deteriorating purchasing power of the consumers. Despite these, the Company remains cautiously optimistic about staying on course on its recovery journey in the coming year capitalizing on strong brand equity and highly committed workforce supported by continuous initiatives for operational excellence.

Karachi (Muhammad Yasir) Pakistan’s premier conglomerate, Engro Corporation (PSX: ENGRO) announced its financial results for the year ended December 31, 2021.

Overview of Financial Performance

During 2021, Engro Corporation’s standalone revenue increased from PKR 15.00 billion in 2020 to PKR 20.68 billion in 2021, exhibiting a substantial growth of 38%. Higher revenue was primarily due to higher dividends received from Engro Polymer & Chemicals Limited (EPCL) and Engro Fertilizers Limited (EFERT), which in turn were driven by strong underlying business performance. Resultantly, the company achieved a 14% higher PAT of PKR 18.52 billion in 2021 against PKR 16.30 billion in 2020, translating into an EPS of PKR 32.14 per share (2020: PKR 28.29 per share).

On a consolidated basis, Engro Corporation’s revenue grew by 25% to PKR 311.59 billion in 2021 from PKR 248.82 billion in 2020. The Company posted a PAT of PKR 52.61 billion in 2021, which is 19% higher than PKR 44.11 billion in 2020, translating to an EPS of PKR 48.50 per share (2020: PKR 43.57 per share).

Engro Corporation announced a final cash dividend of PKR 1/- per share for the year. This is in addition to the PKR 24/- per share dividend that has already been announced during the financial year, bringing the cumulative payout to PKR 25/- per share.

Portfolio Performance Review

Fertilizers: Domestic market witnessed strong agricultural sector performance in 2021. Resultantly, EFERT achieved a historical milestone of highest ever urea sales of 2,295 KT in 2021 against 2,057 KT in 2020. Due to the turnaround of Base and Enven plant, urea production during the year reduced from 2,264 KT in 2020 to 2,105 KT in 2021.

Phosphates sales stood at 366 KT whereby a steep rise in international prices dampened local demand. On an overall basis, EFERT achieved its highest ever PAT of PKR 21.09 billion in 2021, demonstrating a growth of 16% from 18.13 billion in 2020.

Petrochemicals: EPCL announced commercial operations of its new PVC plant and VCM debottlenecking during March and June 2021, respectively. PVC capacity increased by 100 KT to 295 KT per annum while VCM capacity increased by 50 KT to 245 KT per annum. These initiatives enabled EPCL to achieve record domestic PVC sales of 207 KT alongside highest ever PVC exports of 19 KT translating into an export value of USD 28 million. During the year, international PVC prices increased significantly due to supply disruptions, however, supplies to domestic PVC downstream market continued uninterrupted due to EPCL’s steady production.

EPCL recorded sales of PKR 70.02 billion as compared to PKR 35.33 billion in 2020. PAT increased from PKR 5.73 billion in 2020 to PKR 15.06 billion in 2021 showing an increase of 163% attributable to increased volumetric sales, efficient operations and higher international prices.

Telecommunication Infrastructure: During the year, Engro Corporation formed a dedicated platform for connectivity and telecom infrastructure initiatives by the name of Engro Connect (Pvt.) Limited (EConnect). EConnect is a wholly owned subsidiary of Engro and now holds complete ownership of Engro Enfrashare (Pvt.) Limited (Enfrashare), which is Pakistan’s largest independent telecom tower company.

Enfrashare continued to expand its national footprint and achieved a scale of 2,246 operational B2S towers with a 1.1x tenancy ratio while catering to all four Mobile Network Operators in Pakistan. Enfrashare built over 75% of the total new B2S towers that were deployed in the country during the year 2021. This increase in the portfolio led to a growth of 3x in the revenue in comparison with last year. The business has secured orders to reach a scale of 3,300+ sites by the end of 2022.

Foods & Rice: FrieslandCampina Engro Pakistan Limited (FCEPL) demonstrated a topline growth of 18%, recording sales of PKR 52.09 billion as compared to PKR 44.16 billion in 2020. The gross margin increased to 16% from 12% last year, translating into an increase in PAT from PKR 0.18 billion in 2020 to PKR 1.80 billion in 2021.

The business demonstrated an overall increase of 10x in the profitability driven by cost saving initiatives, leveraging e-commerce channels, improved reach / route to markets, increased marketing spend and market penetration to enhance brand equity.

Engro Eximp Agriproducts (EEAP) surpassed industry growth of 16% in the brown rice segment and recorded 21% growth versus last year. As a key contributor to foreign reserves, the business continued its focus towards exports, generating a revenue of USD 18.8 million through international sale of 24 KT rice against 28 KT last year. Given the supply chain constraints in the international market, the business pivoted its supply to the local market and increased domestic sales by 39% to 13 KT during 2021.

Energy & Power: Sindh Engro Coal Mining Company (SECMC) supplied 3.8 million tons of coal to Engro Powergen Thar Limited (EPTL) during the year. EPTL achieved an availability of 83% with a load factor of 80% and dispatched 4,225 GwH to the national grid during the year.

The Phase II expansion of SECMC’s mine to 7.6 million tons per annum is underway with 71% of the overburden removed from the site. Phase III expansion of the mine to 12.2 million tons per annum has also been approved during the year.

Engro Powergen Qadirpur Limited (EPQL) plant dispatched a Net Electrical Output of 851 GwH to the national grid with a load factor of 46% compared to 30% last year due to higher offtake from the Power Purchaser. EPQL’s revenue increased by 26% due to higher dispatch and load factor which was offset by the absence of long-term debt servicing component. The business posted a PAT of PKR 1.59 billion for the current period as compared to PKR 2.08 billion for 2020.

Terminals: Engro Elengy Terminal (Pvt.) Limited (EETL) successfully completed Pakistan’s first-ever Dry-Docking activity of FSRU Exquisite at Qatar dockyard with minimum outage during the switchover between the two FSRUs. During the Dry-Docking period, FSRU Sequoia enabled gas supply continuity ensuring national energy security.

The LNG terminal handled 72 vessels during 2021, in line with last year, delivering 216.2 bcf re-gasified LNG into the SSGC network with an availability factor of 96.5%. The terminal contributed 15% towards Pakistan’s total gas supply during the year.

The chemicals terminal throughput volumes normalized to 1,280 KT against 1,142 KT last year which was offset by lower LPG volumes. Overall, profitability of both the LNG and chemical storage terminals business remained stable during 2021.

Lahore (Nut Desk)

Delegation of Event Managers return from FAM trip to Turkey and Northern Cyprus

Through the efforts of two companies, Tay Istanbul Events and Vision Events, the official tourism board of Turkey, invited a delegation from the TOP 9 Event Management Agencies in Pakistan, to discuss future business prospects and talent exchange between Turkey, Republic of Northern Cyprus and Pakistan. Event Management agencies who represented Pakistan included Vision Events, JBnJaws, Starlinks PR & Event, Raka Events, Fine Art Weddings, Mosh Diaries, Miradore Weddings, Tsafira, and IDC Ltd, which are some of the top-listed agencies!

In a conversation with Sarfraz Niazi, a partner at one of the top Event management agency from Lahore, JBnJaws, shared, “The experience was out-class and Tay Istanbul Events proved to be one of the most welcoming hosts ever! This trip showed us how there are so many untapped opportunities where the two countries could come together to provide better facilitations and ease is carrying out mega-events and collaborations.”

Turkey’s tourism board hosted the delegation at prime locations in Antalya, Istanbul and the Republic of Northern Cyprus, with many recreational activities showcasing the rich culture to make the experience, one to remember!

Lahore (Muhammad Yasir) Lahore Central Business District Development Authority (LCBDDA) organized pre-bid interactive sessions in Karachi, Lahore, Islamabad, Gujranwala, Faisalabad before the grand auction of Lahore’s first planned Downtown, which is likely to take place end of this month, exact date to be announced soon. Authority is determined to facilitate and assist the investors and that is why such interactive sessions were also organized before the previous landmark auction of Lahore Prime.

LCBDDA which is also known as Central Business District Punjab (CBD) is desirous to facilitate the business community and to accelerate economic growth. These interactive sessions were hosted by Commercial Directorate of LCBDDA. Sessions were attended and applauded by the business community, investors, stake holders and potential bidders. The upcoming auction of Lahore Downtown comprises 7 mixed used commercial plots ranging between 12 and 14 kanals, providing very favourable bylaws to the developers. Downtown has already created an optimistic vibe in the real estate sector due to its ideal location in the heart of Lahore, Gulberg, Main Boulevard.

Mansoor Ahmed Janjua, Chief Operating Officer LCBDDA while expressing his views about the sessions and project said, ‘‘These sessions are organized to create awareness amongst the investors and potential bidders of Pakistan for Lahore’s first planed Downtown and its bidding process, we welcome bidders from not just Pakistan but from the international arena as well”. Further adding to the brief, Mohammad Omer, Executive Director Commercial said that, “The 5-year payment plan is attracting a lot of bidders, Lahore Downtown will become a sign of class and ingenuity for all by revolutionizing new opportunities in the field of real estate’’.

In previous auction of Lahore Prime the authority managed to get staggering investment of Rs 24 billion, which is an example that CBD Punjab’s is committed towards its objective of reforming and reshaping the economic growth of Pakistan. CBD Punjab is not only an economic growth attraction but it will also create multiple employment opportunities once the business and construction activities are rolled out. International and national investors showed deep interest in this highly anticipated project, opening new avenues for real estate sector and business community.

Lahore (Nut Desk)

realme Lifts the Curtain on realme 9i to Show Where Real Power and Master Quality is Born

Teasing the launch of the realme 9i in Pakistan, realme conducted a media tour to give a glimpse of their assembly process for the smartphone that will redefine the #powerofreal6nm

realme has made a huge wave in the Pakistani smartphone market since its entry two years ago. Known for its trendsetting behavior in the tech-world and its economical pricing by consumers, the brand is on its way to becoming a household name. Gearing up for the launch of the latest number series of smartphones, the company invited media representatives from both print and digital media to witness the process that goes into creating the new powerhouse smartphone – realme 9i.

Behind every great product line lies an intensive, methodical production process and a dedicated workforce. The assembly plant has created around 800-1000 jobs for the local economy which includes technicians, engineers, and other personnel. The assembly plant was setup in July 2021 with an investment of USD 16 million and has since produced more than a million smartphone units. The daily output of the plant can range from 2500 – 4000 units depending on market demand as well as the type of smartphone they are manufacturing at the time as the plant handles manufacturing for low and mid-range products as well as premium ones. The realme factory acts as the model after which this assembly plant is based. As such, strict guidelines are followed in all processes and operations which are laid down by realme HQ in order to ensure smooth operation and high-quality production. Local staff is trained on these guidelines and standards through staff trainings conducted by Chinese engineers and technicians. The realme assembly plant works towards the philosophy of made in Pakistan, for Pakistan – bringing the same top notch quality that realme is known for across the globe.

To give you a peak behind the curtain, we will now take you through the production process for the upcoming realme 9i. Initially, the TPC (which is the base of the device) is imported from China and then rechecked upon entry to Pakistan. The process starts by attaching the motherboards to the TPC. Even with a compliant, controlled environment, the front camera is fitted in a clean shed, which is to ensure that once the safety foam is taken off, it is protected from dust. Next, the RF cable (antenna) is attached to the device after which the rear camera fitting is the next step. The C-plate is then pressed onto the phone and the fingerprint bracket is added to the device. After this, the board is then put in place, after which an automated process screws in the bolts. Further down the line, a very thin film is installed to showcase the phone has not had any changes made after assembly. After all of this, an auto scan is carried out, to ensure that the device has been assembled with all the right parts. The back cover is then placed, in a covered area.

The next step after assembly involves testing of the device. Our production lines have fully functional, automated testing equipment. A software is installed for quality assurance check after which the hardware testing comes next, in which the calibration of the device, ports, camera, and the LCD is checked. Then the software is tested of each device including the GPS and antenna. The lamination is the next step after which additional tests are run. The smartphones produced in the plant are also subjected to the drop test, scratch test, and micro drop test to ensure durability. IMEI numbers are then checked, and the UI is then installed in each device. The phone is then checked through a barcode scan after which it is placed in a port, which resets the device in order to make sure that none of the files from the checking are left in the device. The device is packed, and a bar code sticker is stuck on the device. They are packed along with the data cable and a warranty card. It is once more checked to ensure all the products in the box match the barcode. At the end, the box is sealed and shipped off to waiting consumers.

Due to the assembly being done in Pakistan, the cost of realme smartphones has reduced by 40%, the benefit of which has transferred to the end user. So, keep an eye out for the new realme 9i smartphone, coming soon to stores near you. The handset provides superior 6nm processing power with the power of Qualcomm Snapdragon 680 chipset as well as a 50MP AI Triple camera to help you take the perfect shot and super-fast 33W Dart Charge to ensure you never run out of juice. With the vision of being in the TOP 3 brands in the next two years; and reaching the top spot in the next five; all expansions will be done in accordance to market demand.

Lahore (Nut Desk)

As a result of the digital revolution, demand for digital-based solutions has increased in every industry. These technologies not only help firms access a worldwide audience, but also help them deal with widespread digitalization. One such disruptive digital money that is all the rage in this internet era is a cryptocurrency secured by encryption technology. Almost every cryptocurrency on the market is built on blockchain technology and functions as a distributed network. Bitcoin empowers individuals all around the world with whole new options and possibilities without the interference of a middleman or a central authority.

The cryptocurrency market is predicted to rise from USD 1.6 billion in 2021 to USD 2.2 billion in 2026, thanks to rising demand and a growing craze. Despite the crypto market’s many perks, such as portability, divisibility, inflation resistance, and transparency, not every crypto exchange platform has been discovered to take advantage of all of them. The currency’s shortcomings, including as illicit activities, exchange rate instability, and vulnerabilities beneath the blockchain technology’s architecture, were overshadowed by its poor success rate and failed security.

‘Bibox,’ the world’s first AI Digital Asset Trading Platform, is debuting in Pakistan to revolutionise and unlock the full potential of decentralised funding at a time when the government is contemplating legislation to essentially prohibit most private cryptocurrencies. Bibox, which was founded in 2017, boasts over 10 million members in 160 countries and a Swiss VQF financial licence.

The firm is the first of its type to offer a crypto trading platform with numerous innovative features. Some of them make money through crypto, copy trading, bot trading, and other decentralised finance services. When these capabilities are combined with AI technology, customers may enjoy unparalleled levels of efficiency and ease when trading cryptocurrency. Aside from that, the site has a simple and user-friendly layout that makes crypto trading for non-techies a breeze.

Bibox as a firm is almost ready to go full throttle in Pakistan. Maintaining positive relationships with international projects in gaming, NFT, Defi, and other areas. Traders and global crypto initiatives will benefit from the platform from a business standpoint. Super Start, S-POOL, Pre-taste, and the Global Public Blockchain Club are among the exciting new programmes on the platform’s “Selected” section, which provides a global stage for companies with varying needs.

Thanks to advanced technology and solutions that offer ultimate anonymity and safety for consumers, Bibox encourages millions of crypto traders in Pakistan and therefore holds the largest market share in the country’s crypto trading. Muli. G (Head of Asia) went on to say that they plan to recruit about 50 people in Pakistan with a $10 million budget for marketing, hiring, and developing cryptocurrency- related goods and services. Bibox is currently fully functioning and devoted to offering an amazing experience to Pakistani consumers. To begin your crypto experience with the world’s first AI-powered digital asset trading platform, go to Bibox’s website.

 

Karachi (Muhammad Yasir) Pakistani startup Energy and Automation (ENA), a company of Jaffer Business Systems (JBS)  recently joined forces with Jolta Battery Private Limited, sister company of Jolta Electric – Pakistan’s First EV company, to provide solutions to the telecom & banking sector.

An agreement to this effect took place between the two companies with a potential of $35million in the most advanced Graphene based Supercaps Energy Storage Solutions with an innovative power backup storage technology called “ENARGEZE SUPERPOWER”  powered by Zoxcell.

This will be great for the local power and energy storage industry as Pakistan has around 50,000 telecom towers across the country. Also a plus for the banking sector which is estimated to have more than 30,000 bank branches all over Pakistan.

In 2021, the global demand for energy was projected to increase to 2.5 to four terawatt-hours annually in the next eight years. In Pakistan, however, the energy storage market and capacity is quite basic and fragmented. The country is beset by frequent power outages, unreliable transmission infrastructure, short life and low efficiency alternatives. So this [Enargeze Superpower] will be a real game changer.

Speaking at the event, ENA’s Chief Executive Amir Salman and Director Faisal Murad explained that the Supercapacitor is 25 times better than VRLA dry batteries.

They said that this new technology is safe to use and minimizes the use of generators. In the bigger picture, this will contribute to a greener world by reducing carbon footprint and fuel consumption.

This initiative of ENA will set a benchmark in the industry and will emerge as a new trendsetter in the country by creating a pool of employment opportunities and facilitating huge growth. 

Rehan Aslam, the Co-Founder & COO of Jolta Batteries, declared this a historic and one of the biggest partnerships in the Energy Storage Sector of Pakistan as a revolution in the private sector of Pakistan.

“Jolta Battery is bringing the most advanced technology in Pakistan, which will be significantly helpful to the national exchequer by reducing the import bill of up to $1 billion in three to four years,” he said.

He added that  localization of Supercaps, technology would increase jobs in Pakistan and also add value to green and clean energy in Pakistan.

This event was held in the presence of Jolta Group Chairman Muhammad Azim, Jolta Electric CEO Usman Sheikh, Jolta Battery Co-Founder & COO Rehan Aslam, JBS CEO Veqar Ul Islam, ENA’s Chief Executive Amir Salman and Director Faisal Murad.

 

Lahore (Nut Desk)

The Honorable Prime Minister of Pakistan, Mr. Imran Khan launched the second phase of Raast, called Person–to–Person instant payment system in a ceremony in Islamabad today. Raast, a flagship initiative of the State Bank of Pakistan (SBP) is a payment system platform that enables various types of transactions among different stakeholders such as organizations, businesses and persons. The
objective of this initiative is to promote digitization and financial inclusion in the country.

In the first phase of Raast, launched in January 2021, transactions from organizations to persons, generally referred to as Bulk Payments, was enabled. The second phase is designed to facilitate Person–to– Person (P2P) transactions under Raast.

The Prime Minister congratulated Governor SBP Dr. Reza Baqir and his team for the successful completion of the second phase. He was addressing a gathering of Ministers, Presidents and CEOs of Banks, SBP officials and other distinguished guests at the Prime Minister House in Islamabad.

He appreciated that the newly launched system will enable ordinary people to execute digital payments instantly, securely, and conveniently without paying any fee and added that Raast will open doors of further innovation for the economy and particularly the financial sector. He expressed his confidence that through digitization of the economy, the over 220 million population could be converted into an
asset by ensuring their financial inclusion.

Speaking on the occasion, Minister for Finance and Revenue, Mr. Shaukat Tarin appreciated the SBP for the progress made in digitization and expressed his confidence that the forthcoming phases of Raast including payment to merchant will play an important role in facilitating the masses in their financial transaction thus increasing their valuable contribution in the economy.

Governor SBP Dr. Reza Baqir welcomed the Prime Minister on the launch event and expressed gratitude for his commitment and support to the SBP initiatives for promoting digitization and financial inclusion in the economy. Governor Baqir, while highlighting the key features of Raast, explained that individuals can use this platform in their transactions just like cash and they will not have to pay any fees or charges for using this payment system. More importantly, Raast is secure and
convenient and free of risks compared to cash. Raast is easy and simple to use as it allows connecting bank account to user’s mobile number, called Raast ID. The facility can be used on mobile apps and internet banking portals of banks. For those people who do not have a mobile phone or facility of internet banking, Raast P2P service is also available in bank branches.

To avail Raast, customers should check SBP’s Raast landing page to see if their bank is already offering Raast—currently more than 18 banks, processing majority of retail payment transactions, are offering Raast services —and register one time for Raast in their bank’s mobile app, through internet banking or by visiting a bank branch. Remaining banks are expected to be on boarded with Raast in the
coming weeks.

Customers may also see the following YouTube video tutorial on registering and using Raast: https://www.youtube.com/watch?v=wRZC0M1d–K0
Dr. Baqir explained that Raast is Pakistan’s first instant payment system established in accordance with the National Payment Systems Strategy, which was prepared by State Bank of Pakistan and launched by the President of the World Bank in 2019 when he visited Pakistan.

This project is a major initiative of State Bank of Pakistan, and with the launch of Raast, Pakistan is now in an exclusive list of countries who have these state of the art instant payment system. He assured that SBP is committed to launching more innovative features in Raast to further promote digitization and financial inclusion.
On SBP’s efforts to promote digitalization of payments and economy, Governor SBP highlighted that in January SBP issued digital bank licensing framework that provides flexible requirements to setup digital banks in Pakistan.

For now, only five licenses for Digital Banks will be issued and interested parties can apply for a license until March 31, 2022. It may be noted that during fiscal year 2021, 1.2 billion transactions of USD500 billion value were processed through retail e–Banking channels. These transactions showed year–on–year growth of 30.6% in volume and 31.1% in value.

Lahore (Nut Desk)

Governor State Bank of Pakistan (SBP), Reza Baqir said otherday that owing to the revolutionary initiatives introduced by the central bank, the e-banking transactions were recorded at around $500 billion during the last fiscal year (2020-21).

Addressing the launching ceremony of Raast Digital Payment Programme, he said that e-banking transactions were considerably more than country’s total Gross Domestic Product (GDP) which currently stands at $370 billion.

He said, the e-banking transactions were showing growth of around 30 percent annually. “If it is $500 billion now, you can imagine at which pace we are digitizing,” he remarked.

Reza Baqir said that Raast digital platform, the person-to-person transaction system, was made by SBP under the Prime Minister’s vision to ensure outreach of banking system to all citizens of the country.

Rasst is part of national payment strategy which was launched by SBP in November 2019. The World Bank President had launched it and helped in developing this strategy.

He said, it was technologically advanced system and was currently executed only in a few countries including Malaysia, Turkey, Australia, United Kingdom and partially in United States.

He said that there were around 190 million mobile subscribers in the country whereas only 80 million people were having bank accounts, meaning that there were over 100 million people, who have mobile phone but do not possess bank accounts.

So there is a huge potential for enhancing financial inclusion, he said and expressed the hope that Raast programme would bridge this gap.

The SBP Governor said that Raast was different from other programmes as it would facilitate free-cost transactions within seconds. He expressed the hope that people would like the new system and take benefit from it.

He said that the SBP had taken many initiatives for pacing up the process of digitization. The Point of Sales (POS) machines also witnessed growth of 50 percent and are expected to grow at more fast pace.

Peshawar (Muhammad Yasir) A formal MoU was signed between Fatima Fertilizer and the Government of Khyber Pakhtunkhwa (Agriculture department) on Tuesday, February 15, 2022 at a local hotel in Peshawar. The aim of this collaboration was to promote awareness amongst local farmers to maximize their crop yield through a balanced application of fertilizer. Notable representatives from KPK’s agriculture department as well as officials from Fatima Fertilizer attended the agreement signing ceremony.

Balanced use of fertilizer is strongly recommended by experts to improve fertilizer use efficiency and is recommended as a common practice for farmers. It not only helps to increase the average crop yield, but also the overall profitability of the farmer. Furthermore, it also essential to achieve agriculture sustainability and enhance the soil’s nutrient profile.

While speaking about this collaboration, Asad Murad, Chief Operating Officer of Fatima Fertilizer said, “This MoU singing is an important step to highlight the significance of balanced use of fertilizer that not only helps the farmer to reduce his cost of farm input but also helps to maximize his average crop yield and profitability. Enhancing our food production is most crucial to protect our national food security.”

Dr. Muhammad Israr, Secretary Agriculture of Khyber Pakhtunkhwa Government said, “We are grateful to Fatima Fertilizer for supporting the KPK Government through technical assistance and maintaining availability of fertilizer to support the farmer community. This collaboration is a good step and we look forward to increasing many such partnerships in future.”

Balanced application of fertilizer is globally recognized as a major cost and performance determinant for food production. There is a significant gap between potential and actual crop yield in Pakistan. Reducing this gap will not only present a major opportunity to protect our national food security but will also help in improving the economic status and prosperity of small-scale farmers.