KARACHI: Ismail Industries Limited, a prominent food manufacturer and exporter in Pakistan, announced this week it would set up a subsidiary in Abu Dhabi after seeking the necessary regulatory approvals.
Pakistani businesses and industries have been grappling for years with chronic issues like the shortage of electricity, gas and water. A deteriorating law and order situation in most parts of the country and particularly the commercial hub, Karachi, is also fueling uncertainty for businesses. Major trade bodies have also rejected the new tax heavy finance bill for the coming fiscal year amid an annual inflation projection of up to 13.5 percent for June. The budget comes into effect on Monday.
“The Board of Directors (BoD) has resolved to establish/set-up a wholly owned subsidiary of the company in Abu Dhabi, UAE,” Ismail Industries said in a notice issued to the Pakistan Stock Exchange on Friday, informing its shareholders that the subsidiary would manufacture, market, sell, and distribute all kinds of food, including biscuits and confectionery.
“The company will accordingly seek all necessary regulatory approvals and proceed with the incorporation process once the same has been obtained.”
Ismail Industries produces a diverse range of confectionery, biscuits, chips, flour, packaging and other items. It includes Bisconni, which offers an extensive range of premium biscuits and cookies, and Candyland, which was set up in 1998 and makes a wide array of candies, chocolates, jellies and bubble gums.
Ismail Industries is ISO 22000 certified, a standard developed by the International Organization for Standardization dealing with food safety. It is also certified by SANHA (South African National Halal Authority), a leading authority in the certification for Halal products around the world.

ISLAMABAD: Bassam Karanouh, a partner of the Dubai-based Caballero Foods company, visited the FonGrow agriculture and livestock farm in Khanewal city to explore opportunities in Pakistani corporate farming and promote “sustainable supply chains in the global meat market,” Radio Pakistan reported on Sunday.
Pakistan last year set up a Special Investment Facilitation Council (SIFC) — a civil-military hybrid forum — to attract foreign funding in agriculture, mining, information technology, defense production and energy as the South Asian country deals with a balance of payments crisis and requires billions of dollars in foreign exchange to finance its trade deficit and repay its international debts in the current financial year.
Initiatives in the agriculture sector under SIFC are being administered by FonGrow, which is part of the Fauji Foundation investment group run by former Pakistani military officers.
“A partner of Dubai Based Company Caballero Foods visited the FonGrow agriculture and livestock farm in Khanewal,” Radio Pakistan reported on Sunday. “The purpose of the visit was to explore the sustainable supply chains in the global meat market as well as promote bilateral trade ties with Gulf countries.”
The visiting company official was informed about the process of In Vitro Fertilization being used by FonGrow, in which an egg was fertilized outside the uterus of female cattle in a laboratory, resulting in the creation of multiple offspring from a healthy animal’s ovum.

“I would be glad to be the ambassador for Pakistan, for all the product they have, not only the meat because, I do believe in the product that they are producing,” Kakanouh said.
In an interview to Arab News last year, the CEO of FonGrow said Pakistan was seeking up to $6 billion investment from Saudi Arabia, the UAE, Qatar and Bahrain over the next three to five years for corporate farming, with the aim of cultivating 1.5 million acres of previously unfarmed land and mechanizing existing 50 million acres of agricultural lands across the country.
“We have estimated about $5-6 billion [investment from Gulf nations] for initial three to five years,” Major General (retired) Tahir Aslam, FonGrow’s managing-director and chief executive officer, told Arab News in an interview.
He declined to share details about the breakdown of the investment from each individual country. 
The CEO said the company was engaging with several Saudi companies like Al-Dahara, Saleh and Al-Khorayef to attract investment in the corporate farming sector. 
Aslam said his company was also working on different investment models with the Saudi and UAE companies for corporate farming, including joint ventures.