Metro group’s investment to encourage other foreign investors; Gilani

ISLAMABAD : Prime Minister Syed Yousuf Raza Gilani Thursday while appreciating the initiative taken by the Metro Group in launching its whole-sale business in Pakistan said it would encourage other foreign companies to invest in Pakistan.
Talking to a delegation of Metro Cash & Carry International headed by its Chief Executive Officer Frans W. H. Muller, at the Prime Minister House, the Prime Minister termed it a good addition to food and general merchandise sector in the country.
He said it would also increase economic activity, generate job opportunities and ensure availability of fresh products for the wholesale business in the country.
He said that the proposed investment by the Metro Cash & Carry reflects company’s confidence on the demographic dividend of Pakistan, comprising 160 million people.
The Prime Minister while appreciating their efforts for establishing facilities for storage and packaging of perishable products like mangoes and kinos and said it would help in increasing the export of perishable items and make these products competitive in the international market.
Muller apprised the Prime Minster of their intent to launch such stores in other cities of the country .
He said that Metro Cash & Carry has set standards in the trading sector with its supply chain management and cold-chain logistics.
He said Pakistan was a promising destination for investment and his company has planned to invest Rs. 20 billion in the next three years.
He said Pakistani mangoes and kinos have great demand around the world particularly in Europe and his company would take appropriate measures to export these products through sea to make it more competitive.
He said the new store in the federal capital would facilitate the business community of the twin cities of Rawalpindi and Islamabad.
He said his company was also working to establish facilities in Multan which was a major mango growing area of the country.
Muller said Metro Cash & Carry was doing business in 31 countries with a total worth of Euros 30 billion. He expressed confidence that this would be a good beginning for his company and assured that his company would invest more in Pakistan in years to come.
The meeting was also attended by the Federal Minister for Ports & Shipping, Privatization and Investment Naveed Qamar.