Abstract
Development of Halāl food sector has great importance for the economy of Pakistan. Global Muslim population constitutes 24% of total world population. Nonetheless, more than 80% of global halal trade is controlled by non-Muslim countries. Halal food industry is developing due to the increasing demand from Muslim and non- Muslim inhabitants and quality of its products. It is estimated that global Halal food and lifestyle market will reach US$ 3.7 trillion by 2019. Pakistani share in the total global halal food market is just $28 million. This share is only 0.25% of the total global halal product trade which is even lesser than that of India. Pakistan is second most populous Muslim country, after Indonesia. It has great potential to increase its share in global halal trade’s industry because its animal and fishes have great meat taste, standards of Sharia compliance and leading Islamic banking industry. Pakistan can improve its halal food trade by encouraging private sector as well as providing them monetary and fiscal incentives. It could create a link between halal industry and Islamic finance. Pakistan can also enhance halal food partnership with Malaysia and China. The purpose of this research paper is to focus the importance of Halal food industry for the economy of Pakistan. To highlight that Pakistan has potential to play a global leading role in the development of Halal food industry. This research paper followed descriptive and analytical approach.
Dr. Sadia Gulzar , Dr. Muhammad Afzal. (2020) DEVELOPMENT AND SCOPE OF HALAL FOOD SECTOR IN PAKISTAN, Epistemology: Journal of Islamic Studies, Volume 7, Volume 2.
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