Shipping edible oil: PNSC, M/S IMGC Group & Waheed Group sign MOU

F.P. Report

KARACHI: PNSC on Thursday signed a Memorandum of Understanding (MoU) with the consortium of M/S IMGC and Waheed Group of Industries for transportation of edible oil from Far-East to Pakistan.

Every year Pakistan imports edible oil for more than 3 Billion USD out of which substantial portion is paid on account of freight charges in USD.

With the signing of MoU, edible oil importers will be in a better position to reduce the cost of imports which will overall benefit the local populace.

This venture will open up a new era for PNSC to enter into an untapped market whose beneficial stakeholders will be Pakistan and the end consumer of Edible oil products.

This arrangement comes at the time when country is facing acute shortage of foreign exchange reserves.

This initiative will not only save foreign exchange but will also ensure economical and reliable availability of edible oil in Pakistani markets.