Omar1984
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KARACHI: March 25 – Sindh Governor Dr. Ishratul Ebad Khan addressing during the inauguration of Metro Cash & Carry Pakistan. APP photo by M. Toheed
Sindh Governor Dr. Ishratul Ebad Khan visiting the different sections after the inauguration of Metro Cash & Carry Pakistan. APP photo by M. Toheed
Sindh Governor Dr. Ishratul Ebad Khan visiting the different sections after the inauguration of Metro Cash & Carry Pakistan. APP photo by M. Toheed
ISLAMABAD, Jun 24 (APP): Prime Minister Syed Yousuf Raza Gilani on Tuesday said all economic sectors in Pakistan are open to Foreign Direct Investment and a level playing field is provided to both local and foreign investors allowing 100 per cent foreign equity. He was talking to Farhad Zulfiqar, Executive Chairman, Makro Habib Pakistan a joint venture between Makro Cash and Carry, a leading Dutch wholesaler of food and non-food products in Asia and South America and House of Habib, Pakistan who called on him here at the PM House this morning.
The Prime Minister said that the government has announced favourable incentive packages to attract investment in all sectors including reduced customs duty, sales tax and withholding tax relief on the import of machinery.
Farhad Zulfiqar told the Prime Minister that Makro Cash and Carry has 172 stores worldwide including in five countries of Asia and four countries of South America and has an annual turnover exceeding four billion Euros.
In Pakistan the company has so far set up 4 stores in Karachi and Lahore, and plans to set up 30 stores, he said.
In his presentation Marek Andrej Minkiewicz, the CEO and Managing Director of Makro Stores in Pakistan informed the Prime Minister that Makro Habib plans to invest around $ 300 million in the next four years out of which $ 200 million will be inward remitted as Foreign Direct Investment.
He said that the monthly turnover of each store is around Rs 160 million.
Secretary Industries and Secretary Board of Investment attended the meeting.
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