MULTAN, August 21st: In an effort to reduce deforestation in Punjab, the South Punjab Forest Company (SPFC) has launched an awareness campaign to sensitise potential investors about business opportunities in the forestry sector.The company in collaboration with the Multan Chamber of Commerce and Industry (MCCI) organised a meeting in Multan Chamber under the chairmanship of Khawaja Jalalauddin Room President to urge businessmen to invest in the forestry sector for a sustainable future. Hafiz Waseem and other of SPFC said that 1.47 million hectares is total forest cover in Pakistan and the country witnessed deforestation at the rate of 2.1 % between 1990 to 2015“ Forest-based investments can lead to tremendous growth and create opportunities that are essential for competing in an inter-connected world,” said MCCI President in his welcome address. “The chamber will play its role in promoting this idea and advocates any policy solutions that drive economic growth, spur innovation and create jobs.”SPFC CEO Tahir Rasheed could not reach to the meeting due to his pre-occupation. SPFC presented a proposal on investment opportunities in forestry sector in South Punjab and informed the participants about the eco-regions of Pakistan. According to a study by Food and Agriculture Organisation (FAO), Pakistan has a total area of 1,472,000 hectares of forest and the country witnessed deforestation at an alarming rate of 2.1% on average.The SPFC aims to afforest 134,995 acres of allotted land in Dera Ghazi Khan Muzaffargarh, Rajanpur ,Rahim yarkhan and Bahawalpur districts , which comes under the Punjab Forestry, Wildlife and Fisheries Department.“By promoting commercial forestry in the area, green jobs in rural areas will be created and logging pressure on existing forests will be reduced,” he said.They said sustainable forestry investments offered low-risk venture with high returns. “Sustainably farmed wood can be supplied to the national wood-based industry that will subsequently reduce dependence on imported wood, eventually reducing the budget deficit,” they claimed. MCCI member hoped the initiative would help bring a green revolution in the province as well as contribute towards the gross domestic product.The public-sector SPFC has been set up with the aim to stimulate private-sector investments alongside public seed money to reduce deforestation in Punjab and to combine forest conservation with sustainable economic development. The investment objective of the company is to encourage the investment in assets that can be established and managed on an environmentally and socially sustainable basis.The company believes in long-term capital appreciation for partners and an attractive and sustainable income yield. In the future, the SPFC will seek investments in forestry projects that are or will be certified by a reputable forest management certification scheme.Khurram Javed Secretary General of MCCI also spoke on this topic.
