EMERGING MARKETS INVESTOR: COMPANY TO WATCH
By Anita Hawser
Headquartered in Lahore, Fatima Fertilizer, which provides nitric acid, ammonia and other fertilizer and chemicals products, was born out of the Pakistan government’s 2001 Fertilizer Policy, which aims to develop greenfield investment to cater to the heavy domestic demand for fertilizer.
A substantial chunk of Pakistan’s economy relies on agriculture, and Fatima Fertilizer aims to help the country be self-sufficient when it comes to fertilizer production. Following the floods in Pakistan last year, Fatima says it worked to help mitigate the impact of the disaster on farmers. It also runs a program to educate farmers about the use of fertilizer to enhance crop yields. In line with its ambitions to become the country’s largest compound fertilizer manufacturer, with a projected output of 2.2 million metric tons by the end of this year, Fatima has added capacity to its production facility. Arif-ur-Rehman, director of operations at Fatima Fertilizer, says the additional capacity will benefit farmers and the national economy. Fatima Group is working with Japan’s Mitsubishi to reduce the environmental impact of one of its key manufacturing plants.
Last year Fatima issued 200 million ordinary shares, which were listed on the Karachi, Lahore and Islamabad stock exchanges. According to information released by Fatima, the company also recently appointed BNY Mellon depositary bank for its over-the-counter ADR program.
Fatima Fertilizer commenced operations in 2003 as a joint venture between diversified manufacturer Fatima Group and financial services provider Arif Habib Group.