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Karachi, Pakistan, February 15, 2012
—IFC, a member of the World Bank Group, is investing in Matco Rice Processing, Pakistan’s leading basmati rice exporter, to help the company expand its production capacity and increase exports, supporting trade and spurring economic growth.
IFC will make a $5 million equity investment in Matco, which the firm will use to boost production at its plant in the village of Sadhoke, Gujranwala. Matco will buy high-quality paddy rice directly from farmers in the Gujranwala area, the largest basmati rice producing district in Pakistan. That is expected to help improve the efficiency of the local supply chain and reduce losses due to spoilage. The IFC investment will also help Matco increase its trade and export operations and generate new employment opportunities in the region.
“Our partnership with IFC will help Matco achieve new heights in exporting, earning valuable foreign currency for the country,” said Jawed Ali Ghori, Managing Director of Matco. “The move will also help the transition of Matco from a family owned company to a publicly listed company and make the planned initial public offering more appealing to potential investors.”
Pakistan is one of only two countries in the world that produce basmati rice and the annual harvest of the aromatic variety of the grain reaches 2.5 million tons. Pakistan is also the fourth largest exporter of rice, which accounts for 13 percent of the country’s total exports.
“IFC’s investment in Matco will help generate employment opportunities, improve the livelihood of farmers and help Matco push into new markets,” said Nadeem Siddiqui, IFC’s Pakistan Resident Representative “IFC will also advise Matco on how to strengthen and enhance its corporate governance, environmental, safety and social practices.”
This initiative is part of IFC’s broader development strategy in Pakistan that promotes sustainability and supports the country’s agriculture sector. Farming is the largest part of the country’s economy, contributing 21 percent of the gross domestic product and employing 45 percent of the total workforce.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
About Matco Rice Processing (Pvt) Limited
Matco is Pakistan’s leading rice processing and export company. Founded in 1964, Matco has been in the business of milling rice since 1970. Currently, Matco has three production facilities in Pakistan, two in the city of Karachi and one in Sadhoke. It exports rice to over 50 countries around the world under its own brand “Falak” and under private label brands. For more information, email
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