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Pakistan’s food company establishes manufacturing facility in UAE

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  • National Foods engages in manufacturing, sale of products. 
  • Company has been granted with manufacturing licence.
  • Seeks to expand access to Middle Eastern markets: CEO. 

KARACHI: Pakistani food company, National Foods, has established its first overseas manufacturing facility in Sharjah, United Arab Emirates (UAE), to increase its footprint on a global level and boost exports of edible goods, Arab News reported Wednesday.

According to The News, the company is principally engaged in the manufacturing and sale of a wide range of food products including pickles, ketchup and desserts

The UAE remains the primary overseas geographical market for the company’s products.

“As part of the strategy on international business, the company’s wholly-owned subsidiary ie, National Foods DMCC based in Dubai, has established a further subsidiary namely National Foods (FZE), in Sharjah, UAE,” the company said in a stock filing.

National Foods DMCC, the Dubai-based subsidiary, was formed in 2012 for the Middle East market and has helped expand the company’s global footprint, Abrar Hasan, CEO of National Foods, said.

The company had applied for a manufacturing licence in the UAE, which had been granted, he added.

“Now we will start manufacturing with the purpose of better access to the market particularly, the Middle Eastern markets. This will be the first overseas manufacturing facility,” Hasan told Arab News, adding that the facility would also help in the localization of products.

He said the company planned to expand beyond just Gulf countries and already had a presence in Canada, the UK and the US.

The company’s export sales increased from Rs2.2 billion to over Rs2.4 billion, mainly to the UAE, during the last fiscal year, while exports increased by Rs638 million during the first three months of the current fiscal year, according to a financial statement of the company posted on Pakistan Stock Exchange (PSX).

Share of exports is about 20% of National Food’s total turnover, Hasan said. Local sales remained around Rs40 billion during the fiscal year 2023 as compared to Rs36.6 billion in the previous year, according to the financial statement.

Pakistani analysts based in the UAE said the demand for Pakistani products was on the rise mainly due to the growing Pakistani diaspora.

“Pakistani diaspora is growing in large numbers in Gulf countries and at the same time the demand for Pakistani products is also rising,” Danish Kazi, a financial and political analyst based in UAE, said.

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The total amount of Pakistan’s liquid foreign reserves is $15.95 billion.

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As of February 14, Pakistan’s total liquid foreign reserves were $15,947.9 million, with the State Bank of Pakistan’s (SBP) holdings being $11,201.5 million.

Official figures for the week ending February 14, 2025, show that the central bank’s liquid foreign exchange reserves rose by $35 million to $11,201.5 million.

Commercial banks maintained net foreign reserves of $4,746.4 million during the period under review, according to the breakdown of foreign reserves.

The nation’s total liquid foreign reserves as of the week ending February 07, 2025, were $15,862.6 million.

Of these, the central bank held $11,166.6 million in foreign reserves, while commercial banks kept $4,696 million in net reserves.

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In January 2025, RDA inflows reach 9.564 billion USD.

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Remittances under the Roshan Digital Account (RDA) increased from US $9.342 billion at the end of 2024 to US $9.564 billion by the end of January 2025.

The most recent data issued by the State Bank of Pakistan (SBP) revealed that remittance inflows in January totaled US$222 million, compared to US$203 million in December and US$186 million in November 2024.

Millions of Non-Resident Pakistanis (NRPs), including those who own a Non-Resident Pakistan Origin Card (POC), desire to engage in banking, payment, and investing activities in Pakistan using these accounts, which offer cutting-edge banking options.

Nearly 778,697 accounts were registered under the scheme by the end of January 2025, according to the data.

By the end of January, foreign-born Pakistanis had contributed US $59 million to Roshan Equity Investment, US $479 million to Naya Pakistan Certificates, and US $799 to Naya Pakistan Islamic Certificates.

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FBR lowers Karachi’s built-up structure property valuation rates

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A year-by-year breakdown of the depreciation value of residential and commercial built-up properties is included in the updated property valuation rates for Karachi that the FBR has announced.

The notification said that built-up structural values on residential property will be gradually reduced.

A residential home’s built-up structure, which is five to ten years old, will lose five percent of its worth.

In a similar vein, constructions between the ages of 10 and 15 will lose 7.5% of their value, while those between the ages of 15 and 25 would lose 10%. Built-up structures that are more than 25 years old will be valued similarly to an open plot.

Furthermore, age will also be used to lower the valuation of built-up properties, such as apartments and flats.

Structures that are five to ten years old will depreciate by ten percent, while those that are ten to twenty years old will depreciate by twenty percent. A 30% depreciation will be applied to properties that are 20 to 30 years old, while a 50% reduction will be applied to those that are above 30 years old.

In terms of commercial built-up properties, buildings that are 10 to 15 years old will lose 5% of their value, while those that are 15 to 25 years old will lose 8%. The value of properties that are more than 25 years old will drop by 10%.

In contrast, there would be a 15% boost in the value of commercial properties in the Defence Housing Authority (DHA) that face any Khayaban.

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