It's an important tipping point that puts Pakistan among the top 5 countries with fastest growing middle class population in Asia-Pacific region, according to an Asian Development Bank report titled Asia's Emerging Middle Class: Past, Present, And Future. The ADB report put Pakistan's middle class growth from 1990 to 2008 at 36.5%, much faster than India's 12.5% growth in the same period.
|Source: Dr. Abdul Ghani|
From 2002 to 2011, the country's middle class, defined as households with daily per capita expenditures of $2-$10 in 2005 purchasing power parity dollars, grew from 32% to 55% of the population, according to a paper presented by Dr. Abdul Ghani at Karachi's Institute Business Administration's International Conference on Marketing. Dr. Ghani has cited Pakistan Standards of Living Measurement (PSLM) Surveys as source of his data.
|Source: Dr. Abdul Ghani, Karachi School of Business|
Growing middle class is a major driver of economic growth, as the income elasticity for durable goods and services for middle class consumers is greater than one, according to a Brookings Institution study titled The Emerging Middle Class in Developing Countries.
Among some of the manifestations of the rising middle class, Dr. Abdul Ghani reports dramatic increase in the ownership of television sets, refrigerators and motorcycles in households in all income deciles in Pakistan. At the same the total household assets have nearly doubled from $387 billion in 2001-02 to $772.6 billion in 2010-11 in terms of 2005 purchasing power parity dollars.
Consumer spending in Pakistan has increased at a 26 percent average pace the past three years, compared with 7.7 percent for Asia, according to data compiled by Euromonitor International, a consumer research firm. Pakistan's rising middle class consumers in major cities like Karachi, Lahore and Islamabad are driving sales of international brand name products and services. Real estate developers and retailers are responding to it by opening new mega shopping malls such as Dolmen in Karachi and Centaurus in Islamabad.
Pakistan's transition to middle-class middle-income country over the last decade mainly during Musharraf years represents a major tipping point for the country's economy. It is likely to accelerate economic growth driven by consumption and draw greater investments in production of products and services demanded by middle class consumers. Some of it is already in evidence in booming sales of durable goods (TV sets, refrigerators, motorcycles) AND non-durables (cosmetics, shampoo, toothpaste, processed foods, etc) in Pakistan's booming FMCG sector.
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Pakistan's Growing Middle Class
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3G-4G Roll-out in Pakistan
Pakiland offers greater mobility to its citizens than India and yet India's pci is higher, HDI is higher, per capita power and energy consumption is higher and is less food insecure and has lower hunger than Pakiland. Quite strange, isn't it?
Majumdar: "Quite strange, isn't it? "
NO, it's not.
The fact is that India has much bigger problems in terms of multi-dimensional poverty which includes income poverty, inequality, disease burdens and basic hygiene. India also has a huge problem of inequality relative to Pakistan. All these affect quality of life more than just average composite indicators you quote.
One data point to note here is that median per capita income in India ($60 per month) is significantly lower than that in Pakistan ($73 per month) in 2005 PPP $. Income poverty rate (those below $1.25 per capita per day) in India is 33% vs 13% in Pakistan
Another point to note is that agriculture value added per capita in Pakistan is about twice that in India. Agriculture employs the largest number of people in India and Pakistan.
India leads the world in open defecation. Disease burdens in India are much higher than in Pakistan.
No one is disputing that India has a lot of poverty. Question is if Pakiland's middle class is bigger how come it consumes less electricty/energy per capita than India. Surely middle class folks dont live without power in Pakiland? Regards
Majumdar: "No one is disputing that India has a lot of poverty. Question is if Pakiland's middle class is bigger how come it consumes less electricty/energy per capita than India. Surely middle class folks dont live without power in Pakiland? Regards"
Per Capita energy consumption in Pakistan is about the same as in India. The difference is that it's more evenly distributed than in India. A detailed World Bank report identified India as the most deprived country in terms of access to energy: as many as 306.2 million of its people are still without this basic utility. The remaining 19 nations lacking access to energy, with the number of deprived people is as follows: Nigeria (82.4 million), Bangladesh (66.4 million), Ethiopia (63.9 million), Congo (55.9 million), Tanzania (38.2 million), Kenya (31.2 million), Sudan (30.9 million), Uganda (28.5 million), Myanmar (24.6 million), Mozambique (19.9 million), Afghanistan (18.5 million), North Korea (18 million), Madagascar (17.8 million), the Philippines (15.6 million), Pakistan (15 million), Burkina Faso (14.3 million), Niger (14.1 million), Indonesia (14 million) and Malawi 13.6 million).
There are some readers from both India and Pakistan who complain that I always compare Pakistan with India.
The fact is that I have also compared Pakistan with other countries like Bangladesh, China and the United States.
Pakistan is a rapidly growing country despite a lot of political and economic challenges. However, its growth rate since 1947 has been better than the global average.
A wide range of economic reforms has resulted in a strong economic outlook.
There has been a great improvement in foreign exchange and currency reserves.
New businesses are opening up across Pakistan which is reshaping its landscape.
The GDP growth accelerated to 4.14 percent in 2013-14 and the momentum of growth is broad based, as all sectors namely agriculture, industry and services are supporting economic growth.
The per capita income in dollar terms has reached to $1,386 in 2013-14.
The agriculture sector accounts for 21.0 percent of GDP and 43.7 percent of employment. It has strong backward and forward linkages. It has four sub-sectors including: crops, livestock, fisheries and forestry.
The industrial sector contributes 20.8 percent in GDP; it is also a major source of tax
revenues for the government and also contributes significantly in the provision of job opportunities to the labor force.
The government has planned and implemented comprehensive policy measures on fast track to revive the economy.
As a result, Pakistan’s industrial sector recorded remarkable growth at 5.8 percent as compared to 1.4 percent in the previous year.
The services sector contains six sub-sectors including: transport, storage and communication; wholesale and retail trade; finance and insurance; housing services (ownership of dwellings); general government Services (public administration and defense); and other private services (social services).
The services sector has witnessed a growth rate of 4.3 percent.
The growth performance in the services sector is broad based, all components contributed positively in growth, Finance and insurance at 5.2 percent, general government services at 2.2 percent, housing services at 4.0 percent, other private services at 5.8 percent, transport, storage and communication at 3.0 percent and wholesale and retail Trade at 5.2 percent.
The three main drivers of economic growth are consumption, investment and export.
Pakistan has a consumption-oriented society, like other developing countries.
The private consumption expenditure in nominal terms reached to 80.49 percent of the GDP, whereas public consumption expenditures are 12.00 percent of GDP.
The government has launched a number of initiatives to create enabling environment in the country including steps to improve the energy situation, law and order, auction of 3G and 4G licenses, and other investment incentives for the investors.
Moody’s recent ratings in favor of Pakistan coupled with jacking up from negative to positive rating of five of its banks — Habib Bank Limited (HBL), Muslim Commercial Bank (MCB), Allied Bank Limited (ABL), United Bank Limited (UBL) and National Bank of Pakistan (NBP) — would definitely boost investor confidence.
The current government has launched a comprehensive plan to create an investment-friendly environment and to attract foreign investors to the country. As is evident, the capital market has reached new heights and emitting positive signals for restoring investor confidence.
The European Union (EU) granted Generalized System of Preferences (GSP) Plus status to Pakistan with an impressive count of 406 votes, granting Pakistani products a duty free access to the European market.
The GSP Plus status will allow almost 20 percent of Pakistani exports to enter the EU market at zero tariff and 70 percent at preferential rates. Award of GSP Plus status depicts the confidence of international markets in the excellent quality of Pakistani products.
Pakistan emerged as one of the best performers in the wake of the global financial crisis, even with a backdrop of a country which waged a costly war against militants.
Congratulations to you and all Pakis on Pakistan Day and 75th anniversary of the noble Lahore Resolution. May Pakiland become what our beloved qaid had envisioned it to be.
On a sad note though, I have to break to you the news of death of one of my heroes (and I suspect yours too) of Hazrat Lee Kuan Yew (RA). May God/Allah give him heaven/jannah.
Majumdar: " On a sad note though, I have to break to you the news of death of one of my heroes (and I suspect yours too) of Hazrat Lee Kuan Yew"
Yes, Lee Kuan Yew was a great man who did a lot for the uplift of his people. His life should be an inspiration for South Asian leaders. May his soul rest in peace.
BTw, I did a post on Suharto's death that acknowledged Lee's great contribution along with Mahathir's and Suharto's. Lee actually wept at Suharo's bedside.
The per capita consumption of energy in Pakiland and India are not "about the same" as you put it. It is 684 kwh per person in India v/s 449 in Pakiland, over 50% difference (Source: World Bank 2011). If you measure it by all sources of energy in terms of kg oil equivalent it stands at 614 kg for India v/s 482 kg for Pakiland (Source: World Bank 2011 data tables).
That Pakiland has 90% households electrified is as meaningless as enrollment in ghost schools or rural Sindh since electrified households dont seem to have much power at all.
Majumdar: "The per capita consumption of energy in Pakiland and India are not "about the same" as you put it."
The important parameter to compare is the primary energy consumption which is only slightly higher in India. 614 Kg for India is not that much higher than 487 Kg for Pakistan. ...in fact, both are orders of magnitude lower when compared with industrialized nations.
Distribution is important too. More people having access helps more people be productive. Hence, the value-added agri in Pakistan is 2X that in India which means lower rural poverty in Pakistan than in India. And no farmers' suicides in Pakistan
If rural poverty, sanitation and disease load is so much less in Pakiland than in India maybe you can explain why:
India's infant mortality rate (41) is so much lower than Pakiland (69)?
India fared better on hunger and food insecurity than Pakiland?
Btw, the whole job of the exercise is not to show either you, sir, or Pakiland in a poor light. I suspect the data pointers I have selected points to something very grave and something that Pakiland can ignore only at its own risk. That in the last 5-6 years (after Mushy's exit) Pakiland has severely stagnated.
Majumdar: " India's infant mortality rate (41) is so much lower than Pakiland (69)?
India fared better on hunger and food insecurity than Pakiland?"
Look at the overall premature fatality rate which is much lower in Pakistan
I am not familiar with the concept of premature fatalities, yet life expectancy of both countries is same (66) (Source: World Bank). There is however a point you are missing. you must be aware that health experts talk about the 1000 day concept- i.e. the first 1000 days- 270 day gestation period and two years of infancy- of an infant substantially determines physical and mental development over the entire lifetime.
There is no question that until the 1990s at least pakiland had far better conditions than India which is reflected in the fact that till date Pakiland's health care indicators (including mortality and life expectancy) dont show up worse than India's.
Thing is that these things are changing. The differential IMR and hunger we see today could be leading indicators of future health care indices.
On energy I missed one more parameter. In India, 42% of households use non-solid fuels compared to only 36% in Pakiland, only marginally higher of course.
Majumdar: "I am not familiar with the concept of premature fatalities"
Premature mortality stats are used by WHO and other health-related agencies.
Please read the following to learn:
Majumdar: " On energy I missed one more parameter. In India, 42% of households use non-solid fuels compared to only 36% in Pakiland, only marginally higher of course."
110 million Pakistanis and 700 million Indians have access to non-solid fuels. The use of cleaner-burning natural gas is far more widespread in Pakistan than in India.
India is way behind Pakistan in terms of its gas pipeline network, with the neighboring country’s network stretching around 56,400 km against its 10,500 km, connecting only 20 cities compared to Pakistan’s 1,050, industry body Assocham said.
India's rating btw is Baa3 which is full 7 notches above Pakiland's.
110 million Pakistanis and 700 million Indians have access to non-solid fuels.
Please read the report carefully, sir. It is the other way round- that is the number of people who suffer from access deficit to non solid fuel. India's population is 7 times Pakilands, it means that % of people in India lacking access to non-solid fuel is marginally lower than Pakiland's.
The piped natural gas network in Pakiland has been much bigger than India's because it was for long a major NG producer (Sui et al). But that gas is now getting exhausted. In India LPG takes the place of NG.
Overall per capita GDP growth has been mediocre for Pakistan for quite some time. However, the middle class has grown substantially and yet I haven't come across this economic puzzle or read about this in The Economist, The WSJ etc.
Anon: "I haven't come across this economic puzzle or read about this in The Economist, The WSJ etc."
There's no puzzle here that basic understanding of income distribution can not solve. Headline stories of Economist and WSJ won't help you here.
It's not the overall GDP growth and average per capita income increases but the median per capita income growth that tells you how the GDP gains are shared among the population.
So to assess the size of the middle class, it's important to look at the median per capita income, an income level that divides the top 50% from the bottom 50% of income earners.
Median income in India ($60 per month) is significantly lower than that in Pakistan ($73 per month) in 2005 PPP $ based on 2009-10 surveys.
$60 per month per capita or $2 per day per capita in India means half the population in India does not meet the ADB and WB definition of middle class in India.
On the other hand, media income of $73 per month per capita in Pakistan means more than half of Pakistanis meet the ADB and WB definition of middle class.
Income poverty rate (those below $1.25 per capita per day) in India is 33% vs 13% in Pakistan, according to WB data on povcalNet.
Also Gini Index for India is 33 and for Pakistan 29, indicating that Pakistan has lower inequality.
A New #Language for #Pakistan’s Deaf. Pakistan Sign Language adds to #Urdu national and 300 regional languages http://nyti.ms/1yzwe4a
A common Indo-Pakistan sign language was in use across the subcontinent long before the 1980s, but many words and concepts in Urdu and other regional languages had no place in it. Pakistan Sign Language grew out of this need, but by the late 1990s the books and guides developed by Absa were deemed outdated and went out of print. So the family education foundation worked with deaf instructors in Punjab and Sindh, and with Rubina Tayyab, the head teacher at the Absa School, to develop a new online lexicon that now contains 5,000 words and phrases. On its website, a new video each day shows men, women, girls and boys signing a phrase with its meaning repeated in English and Urdu. Aaron Awasen, the foundation officer in daily charge of the P.S.L. project, describes this lexicon not as a definitive dictionary, but as “a portal through which Pakistan Sign Language can continue to develop.”
Making technology central is typical of the Deaf Reach system. The online tools are accompanied by a book, a CD and a phone app. Computers and televisions are prominent in classrooms, and teachers are encouraged to explore the Internet for supplementary materials.
The P.S.L. tools imprint three languages — Urdu, English and P.S.L. — on the children’s brains at the same time. They also enable relatives and others to learn P.S.L. even if they can’t attend regular training sessions. Meanwhile, a publicity campaign called “Don’t Say It, Sign It” shows Pakistani celebrities like the filmmaker Sharmeen Obaid-Chinoy and the cricket star Shahid Afridi signing simple phrases in short online video clips, in an effort to remove the stigma of “otherness” and incapacity from the common perception of the deaf.
Ten thousand copies of the organization’s dictionary and DVDs have been distributed across Pakistan, and a second edition is in print. Next, the foundation will send “deaf leaders” to 25 cities to meet with their deaf communities and provide materials for smaller villages. By distributing 18,000 P.S.L. books and 7,000 DVD sets, the organization hopes this first phase of its project will affect 150,000 people.
In a country like Pakistan, where so many other languages and communities jostle for space, and a walk down any street reveals a modern-day Tower of Babel, what does it mean to give an entire community its own language? If “a loss of language is a loss of culture,” as Mr. Awasen says, then the gain of a language is a gain in culture. So empowering the deaf can only strengthen Pakistan’s social fabric; the deaf community will be proud to take its rightful position within the constellation of diversity that is one of Pakistan’s greatest assets.
“#Pakistan is all set to become one of the top global markets of #motorcycles" #Yamaha President Hiroyuki Yanagi http://tribune.com.pk/story/876873/investment-yamaha-resumes-assembly-in-pakistan/ … Yamaha Motor Pakistan (Pvt) Ltd, a newly formed company with 100% equity from Yamaha Motor Company, Japan, is expected to produce 30,000 units in year 2015.
The factory has been established with an initial investment of Rs5.3 billion and its current production capacity is 40,000 units per year. It has hired 200 employees in the first phase.
In its initial phase, the company has introduced the “YBR125” model, a 125cc engine motorcycle, with a network of 140 dealerships in different parts of the country. Equipped with new technology, industry analysts say the initial price of YBR125 (Rs129,400) is competitive enough for its rival models in the market. Pak Suzuki’s GS150 is available in Rs128,500 while Atlas Honda’s CG125 and CG125 Deluxe is available in Rs102,900 and Rs124,000, respectively.
Japanese Ambassador to Pakistan Hiroshi Inomata said that the presence of the top leadership of Pakistan in the inauguration ceremony signifies the importance of the investment Yamaha has brought into Pakistan.
“We appreciate the efforts of the government of Pakistan in bringing FDI in the country. We believe this is a win-win situation for both Japan and Pakistan,” Inomata added.
Board of Investment Chairman Dr Miftah Ismail said the middle class of Pakistan was growing at a rapid pace. From the current level of 70 million, it will touch 100 million by 2025, making Pakistan one of the top six countries with the largest middle class in the world, he added.
Excerpt of Wall Street Journal interview with President of Yamaha Motors in Japan:
WSJ: What about in South Asia?
Mr. Yanagi: We want to expand business in Pakistan and Bangladesh as soon as possible. We had a production venture in Pakistan but we dissolved it five years ago. We are now planning to begin local production again, on our own this time.
In Bangladesh, we import motorcycles from our plant in India on a small scale, but we are studying now the best way of running operations because of rising tariff barrier there.
#Pakistan middle class world's 18th largest: report. #Pakistan 5.7% vs #India 3% of population. #China 1st, #US 2nd http://tribune.com.pk/story/973649/pakistan-has-18th-largest-middle-class-in-the-world-report/ …
Pakistan’s middle class consists of over 6.27 million people, according to Credit Suisse, a global financial services company.
In its Global Wealth Report 2015 released on Oct 13, Credit Suisse said Pakistan has the 18th largest middle class worldwide.
The study revealed that 14% of world adults constituted the middle class in 2015 and held 32% of world wealth. The share of middle-class adults in Pakistan’s total adult population of 111 million was 5.7% in 2015 as opposed to India’s 3% and Australia’s 66% in 2015.
Middle-class Pakistani adults constituted 0.9% of the worldwide middle-class population. The highest concentration of middle-class population in 2015 was in China (108.7 million), followed by the United States (91.8 million) and Japan (62 million).
Defining ‘middle class’
Economists use a variety of methods, such as income and standard of living, to define what constitutes the middle class. Credit Suisse uses the measure of ‘personal wealth’ – or a ‘wealth band’ instead of an ‘income range’ – to determine the size and wealth of the middle class around the world.
Taking the United States as the benchmark country, Credit Suisse considers an adult to be part of the middle class if they have wealth between $50,000 and $500,000 valued at mid-2015 prices.
Credit Suisse came up with the minimum and maximum figures for the US middle-class wealth band based on its median earnings and the amount of capital a person close to retirement age needs to purchase an annuity paying the median wage for the remainder of their life.
For the rest of the countries, Credit Suisse uses the IMF series of Purchasing Power Parity (PPP) values to derive equivalent middle-class wealth bounds in local terms.
Being a lower per-capita country, Pakistan has lower prices and consequently a reduced middle-class threshold. To be a member of the middle class in 2015, according to Credit Suisse, a Pakistani adult must have wealth of at least $14,413.
In terms of the local currency that buys one dollar for Rs104 these days, a Pakistani adult should be considered part of the middle class if they have wealth of between Rs1.5 million and Rs15 million.
With $14,413, Pakistan has the third lowest “middle-class lower bound wealth” for 2015, followed by India ($13,662) and Ukraine ($11,258). This suggests Pakistan has lower prices in general, which enables people to join the middle class by crossing a relatively lower threshold of wealth band.
Wealth in Pakistan
According to Credit Suisse, total wealth in Pakistan amounted to $495 billion in 2015. Given that the figure stood at $170 billion in 2000, total wealth in Pakistan has increased at an annualised rate of 7.4% for the last 15 years.
Total wealth of the world increased on average by 5.2% annually over the same 15-year period, the report shows.
A little more than 90% Pakistani adults had wealth less than $10,000 in 2015. The share of Pakistani adults with wealth between $10,000 and $100,000 in 2015 was 9.8% while only 0.1% adults owned wealth in the range of $100,000 and $1 million, the report revealed.
#Pakistan's Proper #Urbanization, Estimated at 55% Now, Can Yield Big Economic Benefits for its Rapid Urbanization http://www.worldbank.org/en/news/press-release/2015/12/05/proper-urbanization-yield-economic-benefits-pakistan …
Urbanization provides Pakistan with the potential to transform its economy to join the ranks of richer nations, but the country, like others in South Asia, has so far struggled to make the most of that opportunity, says a new World Bank report.
Leveraging Urbanization in South Asia: Managing Spatial Transformation for Prosperity and Livability was presented at the third Pakistan Urban Forum. Difficulty in dealing with the pressures that increased urban populations put on infrastructure, basic services, land, housing and the environment has fostered what the report calls “messy and hidden” urbanization in Pakistan and throughout the region. This, in turn, has helped to constrain Pakistan’s full realization of the prosperity and livability benefits of urbanization.
“Properly managed urbanization can enhance both the prosperity and livability of cities,” says, Peter Ellis, Lead Urban Economist at the World Bank. “This is certainly the case for Pakistan, which is the most urbanized large country in South Asia and derives so much of its economic growth from cities.”
Estimates indicate that cities generate up to 78 percent of Pakistan’s gross domestic product and the government’s Vision 2025 places a premium on urban job growth. Planning ahead for urban growth can help create vibrant and productive cities that fuel the country’s growth, but that will require dealing with the problems posed by the country’s messy and hidden urbanization to date.
Messy urbanization in Pakistan is reflected in the existence of low-density sprawl and the fact that cities are growing outward beyond administrative boundaries, creating challenges for planning, transportation and the provision of public services. It also reflected in the widespread existence of poverty and slums. In Pakistan in 2010, about one in eight urban dwellers lived below the national poverty line and an estimated 46.6 percent of the urban population lived in slums.
Hidden urbanization, the report said, stems from official national statistics understating the share of the population living in areas with urban traits. Officially, 36 percent of Pakistanis lived in urban settlements in 2010 but the World Bank estimates that the actual share of the population living in areas with urban characteristics may be as high as 55 percent. Acknowledging the true extent of urban areas can help to facilitate better planning and metropolitan management.
Failure to address these problems can make cities less livable. Pakistan faced an urban housing shortage of approximately 4.4 million units in 2010. The 2015 livability index of the Economist Intelligence Unit ranked Karachi 135th out of 140 cities; Dhaka was the only major city in South Asia with a lower ranking.
Since the turn of the century, Pakistan has seen a net decline in multi-city agglomerations – defined as continuously lit belts of urbanization containing two or more cities with a population each in excess of 100,000 – as the formation of new agglomerations was outpaced by the merging of existing ones. The Lahore agglomeration, for example, expanded to absorb those of Chiniot, Gujranwala, Gujrat, Lalamusa and Sialkot. In fact, the Lahore agglomeration meets its Delhi equivalent to form one continuously lit belt with an estimated population of 73.4 million, slightly less than the population of Turkey.
#Pakistan’s tallest building ‘Bahria Town Icon’ inaugurated in #Karachi https://shar.es/1heMHu via @sharethis
Pakistan’s tallest building ‘Bahria Town Icon’ was inaugurated with a splendid display of fireworks here on Monday night.
Built by Bahria Town, the sky-scrapper soars 62 floors up in the sky in the Clifton area of the port city.
‘Karachi Icon’ houses residential apartments, a big shopping mall and hundreds of corporate offices.
A large number of people turned up to witness the fireworks that sparkled the sky just above the brilliantly lit tower.
Over last two years: #Pakistan’s food, beverage exports to #UAE increase 27% http://tribune.com.pk/story/1046415/over-last-two-years-pakistans-food-beverage-exports-to-uae-increase-27/ …
Pakistan’s food and beverage exports to the United Arab Emirates (UAE) have increased 27% in the last three years, making it an area worthy of attention after textiles, said the consul general of Pakistan in Dubai.
While rice remains the country’s top export commodity to the Emirates, the food segment remains a potential area as Pakistan continues its fight to increase foreign exchange revenue through exports.
“Pakistan’s food and agro-products exports touched $0.5 billion last year compared to 2012’s number of $362.4 million,” said Commercial Counsellor of Dubai Consulate Saeed Qadir, adding that Pakistan had boosted sale of its traditional agricultural products and expanded reach into areas such as processed meat and poultry products, tea, concentrated milk and cream, certain fruits and vegetables, spices, herbs and confectionaries.
Rice remains Pakistan’s leading food export to the UAE. According to TDAP figures, Pakistan’s rice sales jumped 11 fold to $207.8 million compared to the last two years. Meat and processed frozen food exports crossed the $100 million mark in the last three years.
As for fruits and vegetables, exports increased over 100% in three years. Sales of dried fruits and vegetables to the UAE rose to $9.7 million and $7.8 million, respectively. Exports of potatoes reached $5.9 million last year – an eight-fold increase compared to the 2012 figures, while fresh and frozen meat exports crossed the $50 million mark.
“Moreover, for this sector, there awaits a major export push as more than 90 Pakistani companies are taking part in the Gulfood 2016; the world’s largest annual food and hospitality trade platform, scheduled in Dubai later this month,” said the CG.
“In this exhibition, Pakistani exhibitors will be looking to source new buyers for a wide range of Pakistani food and agro sector products including fresh and frozen foods, rice, fruits and vegetables, sauces, nuts, sweets, confectionery and tea,” said Consulate General of Pakistan, Dubai Consul General Javed Jalil Khattak.
“Buyers can leverage Pakistan’s cost-competitiveness, lower transport costs and delivery time, and the quality, freshness, taste and aroma of our diverse produce”, he added.
The Pakistan pavilion at Gulfood 2016 will feature among 117 national and trade association pavilions. There will also be a first-time group participation from Russia, Costa Rica, Belarus, Mauritius and New Zealand (returning after a six-year break). In all, some 5,000 international companies from 120 countries and more than 85,000 food and beverage, wholesale, retail, distribution and hospitality professionals from five continents will take part in the event.
Data released by global macroeconomic research firm, BMI International, shows that Pakistan remains a buoyant market for consumer sales and food and beverage investment. The firm is forecasting a 9.9% per capita compound annual growth rate (CAGR) in food consumption until 2019, a 3.2% per capita CAGR growth in domestic soft drinks sales and 9.5% per capital CAGR in mass grocery retail sales.
“There are enormous business opportunities emerging in Pakistan for both food and beverage imports and exports, as evident by the recent international investment in manufacturing plants in Karachi, Multan and Islamabad,” explained the Exhibitions and Events Management Dubai World Trade Centre Senior Vice President Trixie Lohmirmand.
#Japan's Ajinomoto to offer #halal seasonings in #Pakistan in collaboration with Lakson Group- Nikkei Asian Review http://s.nikkei.com/1SsHHLV
TOKYO -- Ajinomoto will set up a company in Pakistan to sell halal-certified seasonings, aiming to tap a market of nearly 200 million people as well as gain a firmer foothold near the Middle East and its heavily Muslim population.
The Japanese company will form a joint venture with Pakistani conglomerate Lakson Group in Karachi, Pakistan's largest commercial center. The venture will be capitalized at about 1.2 billion yen ($10.7 million), with Ajinomoto owning 85% and Lakson 15%. It will import such products as fried chicken coating and meat-flavored Masako seasoning from Indonesia and market them across Asia using Lakson's sales network. The two companies are targeting about 1.3 billion yen in sales by fiscal 2022, aiming to eventually turn this into a 10 billion yen business.
Ajinomoto set up an office in Pakistan in July 2014 and has studied trends in the country's food markets and logistics industry. Although it sells its namesake monosodium glutamate flavoring through local stores, it apparently faces an uphill battle against more established Chinese rivals.
Lakson, which works in finance and information technology, also partners with foreign companies to manufacture and sell such items as tea, detergents and soap. Its products are carried by 180,000 retailers across the country. The partnership with Ajinomoto will add high-value-added seasonings such as meat flavorings for lentil soup -- an important part of home cooking -- to Lakson's portfolio.
Ajinomoto expects to report group sales of 1.26 trillion yen for fiscal 2015, with the food segment accounting for about 70%. Domestic food sales are seen totaling 404.5 billion yen and overseas sales 502.7 billion yen. The company has focused on such countries as Brazil, the Philippines and Indonesia as foreign growth drivers. It considers Indonesia key to future growth, positioning it as a base for cultivating the Muslim market.
The company will spend 360 billion rupiah ($27.3 million) to boost Masako production capacity by 30% in Indonesia, where it has had success making and selling halal products. For Pakistan, whose Muslim population is second only to Indonesia's, Ajinomoto will develop products tailored to Muslim dietary habits as well as consider local production.
Dailytimes | #Motorcycle production in #Pakistan reached nearly 2m per annum in 2015 http://go.shr.lc/1sZnPv1 via @Shareaholic
Lack of adequate transportation infrastructure, higher inflation and poor economy made the low-powered vehicles apex priority of Pakistanis as two-wheeler production increased by 10% to 19, 12,944 units in 2015.
"Lower oil prices and improved business environment has provided a much needed boost to motorcycle industry in the outgoing year as production went up significantly due to rising demand," said Association of Pakistan Motorcycle Assemblers (APMA) Chairman Mohammad Sabir Shaikh.
He said that the government has to end the cartelisation of Japanese car and motorcycle assemblers in order to flourish the local industry otherwise the industry would remain on sluggish trajectory in coming decades as well.
He urged the government to abolish imports regime and duty structure for various motorcycles parts, as the duty on imported parts should be the same at 25 % custom duty instead of existing five different structures.
Shaikh said the industry has enough capability to cater to the rising demand of two-wheelers by producing more than 4 million motorcycles per year. However, he added that the government's apathetic attitude towards this dynamic sector has put the industry on a slow track, which has restricted production to only 2 million per annum.
"About half of the parts of motorcycles are being made in Pakistan and half of them are imported from different countries while the local industry is capable to make full production if the government patronises the sector," Sheikh said, adding that the domestic motorcycle industry now completely dominates the local market and not even a single motorcycle has been imported since 2007-08.
Detailed assessment of Pakistan Bureau of Statistics (PBS) latest data reveals that the motorcycle production including locally made Japanese brand and Chinese made imported motorcycles' brand stood at 1,912,944 units in the 2015, registering 10% growth over the same period of last year to 1,743,039 units. In December 2015, total 156,415 motorcycles were produced in the country, registering 17% growth over the production of 134,230 motorcycles in December 2014.
Recently, Atlas Honda Limited has announced an investment of $100 million in the expansion of its motorcycle operations in Pakistan. The first motorcycle produced from the new line will arrive in the market by the beginning of October 2016. The expansion will lead to the generation of 1,800 direct jobs and 5,000 jobs at associated companies and parts manufacturers.
Shaikh told Daily Times that around 4 million of motorcycles are sold illegally in Pakistan due to which the national kitty is being deprived of huge revenue in terms of taxation. "Due to this lack of concern by law enforcement agencies, the national kitty is continuously missing huge revenue in terms of taxes and duties as many local motorcycles assemblers do not show sale of unregistered motorcycles in tax documents," he added.
The motorcycle production in the country is being run by about 100 motorcycle assemblers, including one dozen cottage manufactures, which produce less than 1,000 units.
#Pakistan’s Middle Class Soars as Stability Returns - WSJ. #economy #middleclass
Pakistan, often in the headlines for terrorism, coups and poverty, has developed something else in recent years: a burgeoning middle class that is fueling economic growth and bolstering a fragile democracy.
The transformation is evident in Jamil Abbas, a tailor of women’s clothing whose 15 years of work has paid off with two children in private school and small luxuries like a refrigerator and a washing machine.
For companies like the Swiss food maker Nestlé SA, such hungry consumers signal a sea-change.
“Pakistan is entering the hot zone,” said Bruno Olierhoek, Nestlé’s CEO for Pakistan, saying the country appears to be at a tipping point of exploding demand. Nestlé’s sales in Pakistan have doubled in the past five years to $1 billion.
Although often overshadowed by giant neighbors India and China, Pakistan is the sixth most-populated country, with 200 million people. And now, major progress in the country’s security, economic and political environments have helped create the stability for a thriving middle class.
An unpublished study last year that measured living standards, from Pakistani market research firm Aftab Associates, found that 38% of the country is middle class, while a further 4% is upper class. That’s a combined 84 million people—roughly equivalent to the entire populations of Germany or Turkey.
Such households are likely to have a motorcycle, color TV, refrigerator, washing machine and at least one member who has completed school up to the age of 16, the study found. Official figures show that the proportion of households that own a motorcycle soared to 34% in 2014 from 4% in 1991, and a washing machine to 47% from 13% over that same period. These trends are also attracting international business.
In December, Royal FrieslandCampina NV, a Dutch dairy company, paid $461 million to buy control of Engro Foods, a Pakistani packaged milk producer in a country where most milk is sold unpasteurized from open milk containers.
“What we see is consumer spending is rising and a middle class coming up,” said Hans Laarakker, Engro’s new chief executive.
Late last year, China’s Shanghai Electric Power agreed to pay $1.8 billion for a majority of Karachi’s electric supply company; Turkish electrical appliance maker Arçelik paid $258 million for a Pakistani appliance maker, Dawlance, saying Pakistan has an “increasingly prosperous working and middle class”; and French car maker Renault SA said it was seeking to set up a plant in Pakistan.
Meanwhile, during the past three years, deaths from terrorist attacks have fallen by two-thirds, as the army battles jihadists. Economic growth reached an eight-year high of nearly 5% in the past financial year, and China has begun a multibillion-dollar infrastructure investment program. The Karachi stock market rose 46% last year and continues to soar.
In the developing world, the ability to purchase durable goods such as motorcycles—which itself can lead to new opportunities in employment, education and leisure—is generally viewed as an indicator of a middle class lifestyle. Motorcycle purchases soared in Pakistan to 2 million a year now from 95,000 in 2000, leading Honda Motor Co. to double its production capacity there. Buyers of Honda’s cheapest motorcycle typically earn between just $200 and $300 a month, which would put them well below the poverty line in the West, but here that gives them disposable income.
“All these big companies globally, if they’re not looking at Pakistan, need to look at Pakistan, because it’s a huge consumption economy emerging,” said Saquib Shirazi, chief executive of Honda’s Pakistan joint venture.
#Automobile companies eye production in #Pakistan as local market accelerates. #manufacturing #economy https://www.ft.com/content/328ca8ae-f34a-11e6-8758-6876151821a6
When Naeem Khan went into his local automobile dealer in Karachi to replace his five-year-old taxi with a rickshaw, he was not expecting to leave with a brand new air-conditioned car instead.
But after getting a financing package that was cheaper than he expected, Mr Khan became one of an increasing number of Pakistanis who have recently bought vehicles they previously only dreamt of owning.
The national surge in sales has prompted three global carmakers to commit in the past few months to starting production in Pakistan, potentially doubling the number of foreign carmakers in the country.
“The dealer told me it was the right time to get a loan to buy a car,” says Mr Khan. “Five years ago he said he would have told me to buy a second-hand car or a rickshaw, but today I could afford to buy a new car.”
Pakistan’s car market is still small, and dominated by the three Japanese brands that have local manufacturing plants: Toyota, Honda and Suzuki. The trio made all but seven of the country’s domestically manufactured cars in 2015-16, according to the Pakistan Automotive Manufacturers’ Association, though the figures are just a fraction of their total global car sales.
In the past, analysts say, manufacturers have been put off by the country’s relative poverty, as well as political instability and concerns about security.
But in the past few months, France’s Renault and both Hyundai of South Korea and its affiliate Kia have announced they will soon start assemblies in Pakistan, in partnership with local companies. It marks a return for Kia and Hyundai, which left in the previous decade when their local partner suffered financial problems.
The new and returning entrants are being drawn in by several factors.
The first is both the scale of the potential market in a country of 200m people, as well as the rate at which it is already growing. In 2012-13, carmakers sold 118,830 cars in Pakistan. By 2015-16, that had risen 52 per cent to 181,145.
Analysts say the surge has left Toyota, Honda and Suzuki struggling to meet demand with their customers sometimes forced to wait as long as five months before their cars are delivered.
Yong Sohn, general manager at the Hyundai group, says: “Population and growth-wise, Pakistan is very promising.”
Renault declined to talk about its plans while it is in negotiation with local partners.
Part of the reason for the rise in car sales is that Pakistanis are getting richer. Between 2010 and 2015, the amount each person earned per year rose from $4,370 to $5,320 as measured in gross national income per capita at purchasing power parity.
That trend is expected to continue, partly helped by China’s plans to invest more than $52bn in Pakistan’s infrastructure under the “One Belt, One Road” project. Hyundai forecasts that, consequently, car sales in Pakistan will hit 300,000 a year by 2020.
Just as importantly, say analysts, has been the corresponding fall in interest rates. Since September 2000, the rate at which banks can borrow from the Pakistan central bank has fallen from 13 per cent to 6.25 per cent.
Saleem Memon, who sells finance packages for carsin central Karachi, says: “A few years ago, customers sometimes paid 16 or 17 per cent in annual interest rates. Now, if they are lucky, they can get a good deal for around 11 per cent.”
Another factor drawing carmakers to Pakistan is that security has begun to improve thanks to a two-year campaign by the army. Mr Khan remembers days when he and other taxi driverswere routinely stopped at gunpoint by armed extortionists. “The streets are now safe and people feel comfortable driving till late at night,” he says.
Third, the government has drawn up policies aimed at attracting carmakers, such as cutting the duties applicable to parts shipped from abroad and making it easier to find a site to build a plant.
#Yamaha launches new 125cc #motorcycle in #Pakistan. CEO says Pakistan is the world's 5th largest motorcycle market
Yamaha Motor Pakistan announced the launch of their new 125cc bike vowing to cater the need of common motorcycle users in Pakistan, read a statement issued by the company.
The latest model YB125Z is equipped with features like longer and wider size seat, engine balancer to reduce vibration, powerful headlight halogen lamp, self-starter and gear indication on speedometer, it said.
Yamaha earlier introduced two sporty versions in the 125cc category as it introduced YBR125 & YBR125G models around two years back.
YB125Z is priced at Rs115,900 and this model will be available in the market from the middle of April 2017.
Speaking at the launch, Executive General Manager of Yamaha Motor Co., Ltd. (Japan) Hiroyuki Seto said that Pakistan was now the fifth largest motorcycle market in the world, and Yamaha was looking at Pakistan as a huge potential market.
“We want to establish our presence in the 125cc standard segment in Pakistan,” he said.
Also speaking on the occasion, Yamaha Motor Pakistan’s Managing Director Shigeru Ishikawa highlighted YB125Z as new weapon to cut into mass segment.
“We have big confidence in our new product and it’s a time for us entering the next stage so our valued customers can now experience the real,” he was quoted as saying.
Foodpanda generates additional Rs1bn for Pakistan's food delivery market
Foodpanda, Pakistan’s leading food delivery app, estimates that it has generated a staggering one billion rupees in additional sales for the restaurant industry in the last 12 months.
Along with growing adaptation of online service offerings in Pakistan, Foodpanda has accelerated the switch from offline food ordering to online ordering through its website and mobile app, benefiting both its customers and restaurant partners.
Nauman Sikandar, CEO of foodpanda Pakistan notes:
"Over the last three years we have helped customers to realise that they can spend their valuable time pursuing what they love, rather than preparing food at home. We have partnered with thousands of professional chefs at restaurants who prepare the most delicious meals of your choice for you, along with the convenience of having it delivered right to your doorstep."
He further adds:
“I am a foodie at heart and order from my favorite restaurants almost every day.I used to make tons of telephone calls each month to restaurants and the overall process was extremely painful! Finding the correct telephone number, reading out my order from a leaflet, communicating my address, and then the frustrating moment when I realise that they misunderstood my order through the phone."
"With Foodpanda, you simply log on to our app, select or discover your favourite restaurant and place your order with a few clicks. The app remembers all your details, so you only enter them the first time. Now I can place an order at my favorite restaurant within 30 seconds."
Foodpanda estimates over 7500+ restaurants established all across Pakistan, which it aims to add to its portfolio over the next few years.
Last year, the company grew its restaurant inventory to over 1,000 restaurants which is a 360 per cent increase compared to the previous 12 months.
Next to the local neighbourhood favourites, Foodpanda signed partnerships with national restaurant chains, such as Nando’s, McDonald’s, Sarpino’s and Ginsoy.
Over the last few years, Foodpanda has accelerated the growth of the food delivery market to around 20pc year on year, compared to original growth levels of around 7pc.
Raza Pirbhai, CEO of KFC remarks, "Foodpanda as a concept has taken Pakistanis into the future, not only from the customer point of view but also from the business end. With delivery being the fastest growing channel, KFC Pakistan has seen a rapid growth pattern in its online sales which is doubling over time."
"Together with foodpanda we plan to take KFC to every household in Pakistan over the next few months."
The figures in the following infographic represent Pakistan’s enriched and rapidly growing food ordering market and shows that foodpanda is the pioneer leading explosive growth and improvements in the industry.
#Pakistan’s middle class continues to grow at rapid pace - The Express Tribune
KARACHI: The country’s middle class is experiencing a rapid growth, which is evident from the rising demand for consumer durables, education and health, according to the State Bank of Pakistan (SBP).
The central bank, in its latest report on the state of economy, said that the growth in the consumption pattern in the country is indicative of a budding economy.
“Several indicators show rising consumer demand in the country. These include a rise in consumer financing, an increase in the sale of consumer durables (automobiles and electronic goods) and a sharp growth in fuel consumption,” said the SBP.
“Furthermore, the IBA-SBP Consumer Confidence Index recorded its highest-ever level of 174.9 points in January 2017, showing an increase of 17 points from July 2016.”
While there are different parameters to count the number of people and households in the middle class or the middle-income group of an economy, consumer spending is one prominent barometer which provides a rough assessment.
According to prominent political economist S Akbar Zaidi, Pakistan’s middle class has grown rapidly in the last 15 to 20 years on the back of rising remittances sent home by expats and increase in foreign investment.
“The foreign investment, which came into the country after 2002, has had a trickledown effect on thousands of lives,” he said, adding that increased access to education and rising representation of people in political parties also reflected the growth in the middle class.
Zaidi said that Pakistan’s middle class is often referred to in the context of the number of consumer goods it purchases, ranging from washing machines to motorcycles.
Additionally, attempts to quantify the country’s middle class, largely based on income and the purchase of consumption goods, exhibit that 42% of the population belong to the upper and middle classes, with 38% counted as the middle class.
Middle class Pakistan
“If these numbers are correct, or even indicative in any broad sense, then 84 million Pakistanis belong to the middle and upper classes, a population size which is larger than that of Germany,” said Zaidi.
Meanwhile, Standard Chartered Middle East-North Africa and Pakistan Senior Economist Bilal Khan said that domestic consumption and consumer confidence are strong in the country.
“Monetary easing and lower energy prices can boost household discretionary incomes and, in this context, a strong and stable currency can also be expected to increase demand for imported consumer goods, both durables and non-durables,” he said.
On the other hand, in the central bank’s report, it was mentioned that electronic goods showed a sharp turnaround during first half (January-December) of current fiscal year, recording a growth of 14.5%, against a contraction of 8.2% during the same period of last year.
“Consumer durables like refrigerators (up 25%) and deep-freezers (up 54.4%) mainly contributed to this improved performance,” the report said.
“Furthermore, rise in energy supply in coming months, increase in consumer financing in a low interest rate environment, better market access for rural population, expansionary plans of leading players and foreign investment, all indicates a sustainable trajectory for the industry’s growth going forward,” it added.
Separately, consumer financing posted an increase of Rs37.6 billion during first half of the current fiscal year. Auto finance continued to be the dominated segment, while personal loans showed a pickup as well.
“The net credit off-take of Rs13.7 billion of personal loans witnessed in first half of the fiscal year is the highest half-year figure in about a decade,” the report stated.
The SBP also highlighted a notable growth in the foods segment and a strong growth in the sub-segment of soft beverage.
Consumption Patterns of Pakistan’s Middle Class: A Presentation By Dr. Jawaid A. Ghani
Dr. Jawaid Ghani (Professor of Strategy & Market Research) a renowned expert in the industry provided insights on “Consumption Patterns of Pakistan’s Middle Class” based on his latest research. His research stemmed from decades of studying data, and a conviction to portray the true reality of Pakistan’s economy, in particular the strength of consumption within an average household.
The presentation was held at the KSBL campus on April 18, 2017 in front of a fully-packed auditorium.
Dr. Ghani commenced from a very optimistic viewpoint, stating how we stand today at the precipice of pivotal turnaround in Pakistan’s economic strength. He spoke of the phenomena of lifestyle changes once the population has a degree of financial independence and how increases in ownership of basic home appliances suggest Pakistan is moving towards a tipping point of unparalleled growth.
Some key highlights of his talk were the significant shift in poverty line and movement across income brackets from 1990-2015; the rise of Asia’s booming middle class (replacing that in the West as their population levels off and they surpass basic living standards), such that these shifts in population (increasing adult, working bracket) and spending patterns implicate that consumption in Asia will be driving Global consumption in the next 20-30 years. Dr. Ghani built on these developments in contrast to the situation in neighboring China and India, to show how this will shape trade, economic dynamics, potential sub-contracting in the region with ripple effects across Africa and the world.
The lively Q&A brought forward questions on if this growth was sustainable (considering a lower general savings rate), what it means for upcoming businesses and entrepreneurs and how niche markets are the place of potential.
Dr. Jawaid Ghani’s research narrative is unique in that it offers a counter-narrative to Pakistan’s portrayal in the international media. Remarkably, The Wall Street Journal published an article based on his work in February, 2017. The story is available here: https://www.wsj.com/articles/pakistans-middle-class-soars-as-stability-returns-1485945001
In conversation with Dr. Ghani on the context of his work, he spoke of the importance of a deeper economic analysis and the need to address the gap between what is reflected in government policies and the true reality of consumption strength plus business potential. There must be access to objective information, not a subjugation to the international perspective. For this to happen, the need of the day is for young academics, researchers to take regard of the momentous change that is happening and to document it, so the essence in time is captured. An endeavor that is currently being taken up by students and faculty at KSBL.
#Pizza Hut set to open 75 new outlets to double its restaurants in #Pakistan - The Express Tribune #FastFood
KARACHI: American fast food giant Pizza Hut has decided to double its presence in Pakistan, the company and its local partner announced on Friday, adding that they would open 75 new outlets at an approximate investment of $3.4 million.
During a ceremony at the US Consulate in Karachi, a new franchise agreement was signed between Yum! Brands – a Fortune 500 company that owns Pizza Hut – and its local partner MCR. The deal was aimed at expanding Pizza Hut’s presence in Pakistan and adding to its network of 75 outlets over the period of next five years.
Robot waiter serves food in Multan’s pizza outlet
While the official press release stated that the agreement commits to an expansion of “150 new Pizza Hut units in Pakistan”, Pizza Hut (Middle East) General Manager Randall Blackford confirmed that the company is targeting a total number of 150 outlets across the country.
“We are currently operating at almost 75 units in Pakistan and we are going to double this number in the next four to five years,” he told The Express Tribune.
“Pizza Hut has a long list of first milestones, which include the first food product to be sold over the internet and the first food product to be delivered to outer space. Therefore, it is natural that we want to reach the milestone of first restaurant chain to have 150 outlets in Pakistan,” he added.
Inaugurated in December 1993, Pizza Hut was the first international franchise to enter Pakistan and also the first one to expand its presence in all four provinces of the country. It currently operates under MCR, a Pakistani company that is part of the services sector for the past 25 years.
“Pakistan is a great market for us and we have made so much progress over the years that we want to double it again,” said Blackford, when asked about the motivation behind expansion. “Additionally, Pizza Hut is a massive revenue-generating brand especially in this part of the world, hence our eagerness to capitalise on the market.”
Meanwhile, MCR President Aqueel Hasan said that the agreement presents a massive opportunity for Pakistan, adding that the country was looking at approximately $3.4 million on average in investment alone from the deal. “The amount of investment varies between the size of the proposed outlets, but the figure is anywhere from $300,000 to $600,000 per unit,” he said. Moreover, the agreement has been slated to generate around 3,500 jobs, excluding the spill-over effects from the expansion.
Social media battle erupts over pineapple on pizza
“This is a huge investment not only in monetary terms, but also it terms of skilled labour force available in the economy,” said Blackford. “Each outlet has a couple of dozen people working, so hiring them and training them – that is a massive investment in time.”
Fast Food: 2nd largest industry in Pakistan by Prof. Dr. Noor Ahmed Memon, (Dean KASBIT, Khadim Ali Shah Bukhari Inst of Tech).
Fast Food Industry in Pakistan is the 2nd largest in Pakistan. accounts for 27% of its value added production and 16% of the total employment in manufacturing sector with an estimated 180 million consumers, Pakistan holds the world’s eighth largest market when it comes to fast food and food related business. More than 1000 large scale food processing enterprises in Pakistan. 75% of rural based food manufacturers are in so called informal sector (difficulty in accessing raw material finance informal sector (difficulty in accessing raw material, finance skills, knowledge and management). Pakistan’s fast food sector is changing significantly with an inclined shift in life styles and traditional eating habits. According to the survey which was being made on the performance of the fast food business in Pakistan it was being revealed that an average consumer spends 42% of one’s income on food. Retail sales of processed foods is expand ing by 10% annually. Supermarkets are gaining in popularity as a shopping venue and now account for about 10% of all retail food sales. In addition, Pakistan now hosts numerous western style fast food chains reflecting a rising popularity with such eating style. On an average calculation the fast food business in Pakistan and the trend of eating habits of the locals in the country is increasing almost 21% annually which means the growth of the fast food business in Pakistan is more than 20% on annual basis which makes it as one of the fastest growing businesses not only in Pakistan but even in the entire world as well.
McDonald’s first restaurant opened its door to the people of Pakistan in September 1998 in Lahore. This launch was met with unprecedented enthusiasm from the citizens of Lahore, who are known for their liveliness, vigor and penchant for quality food. Karachi opened its first restaurant a week after Lahore. Ever since we opened the doors of our restaurants both in Karachi & Lahore, we have been proud to provide our customers the same great taste, outstanding value and superior service that is synonymous with the Golden Arches all over the world.
There are now 44 restaurants in 16 major cities of Pakistan. (Karachi, Hyderabad, Lahore, Multan, Faisalabad, Kala Shah Kaku, Sialkot, Gujranwala, Gujrat, Islamabad, Rawalpindi, Jhelum, Peshawar, Quetta, Sahiwal and Bhera)
Baskin-Robbins #icecream chain coming to #Pakistan starting with 35 stores in big cities #Lahore #Karachi #Islamabad
Baskin-Robbins, the world’s most known ice cream chain, has announced that it has signed a master licensing agreement with AHG Flavours (Pvt) Limited and aims to set up 35 Baskin-Robbins shops across Pakistan, with Lahore being the main focal priority.
“Baskin-Robbins is famous around the world for offering an extensive variety of 31 ice cream flavours to its guests and we’re looking forward to treating our customers across Pakistan with the same flavourful experience,” said AHG Flavours Chairman Irfan Mustafa.
“We look forward to opening our first Baskin-Robbins shop in the months ahead.”
AHG Flavours CEO Harris Mustafa, an industry veteran, welcomed Baskin-Robbins in Pakistan in his classic boldness, “Abhi to party shuru hoi hai,” meaning the party has just started.
Aussie globetrotter in love with biryani, Chaman ice-cream
Baskin-Robbins restaurants in Pakistan will feature the brand’s extensive selection of classic ice cream flavours, including Pralines n’ Cream, JamocaTM Almond Fudge, Mint Chocolate Chip and Very Berry Strawberry, alongside regional favourites such as Mango Tango and Tiramisu.
The brand will also offer its delicious range of custom ice cream cakes, frozen beverages, ice cream sundaes and take-home ice cream treats.
Six delicious recipes you must try this Ramazan
“We are pleased to be collaborating with Irfan, Harris and their team to begin developing the Baskin-Robbins brand in Pakistan by bringing our wide range of delicious ice cream flavours, cakes and other treats to Pakistani customers,” said Dunkin’ Brands International Vice President John Varughese.
Baskin-Robbins currently has more than 7,800 restaurants in more than 50 countries around the world.
#Pakistan car sales in July 2017 jump 41% to 19,577 units in July 2017, from July 2016 #Tractor sales spike 125% YoY
Sales of locally assembled vehicles, including jeeps and light commercial vehicles, jumped to 19,577 units in July 2017, up 41% compared to 13,932 units in the same month of 2016, according to latest data released by the Pakistan Automotive Manufacturers Association (PAMA).
A Topline Securities’ report said the numbers were in line with its estimates. The apparently large difference in monthly sales may be attributed to reduced working days in July 2016 because of Eid holidays, the report said.
Pakistan could soon see these electric cars on its roads
Sales of Pak Suzuki Motor Company increased 37% year-on-year (YoY) in July 2017 due to strong demand for Wagon-R, up 77%.
With the introduction of a new model, sales of Cultus rose 66% YoY while Ravi sales were up 41%, which also supported the company’s growth.
Honda outperformed its peers in vehicle sales, posting 113% growth due to successful introduction of a new Civic model and new sports utility vehicle (SUV) BR-V.
Indus Motor sold 4,618 units in July 2017, up 11% YoY. The company’s focus remained on production of higher-margin Fortuner, which recorded a stellar growth of 543%.
Moreover, buyers were postponing their purchase of Toyota Corolla, waiting for the face-lift model, which has arrived now.
Truck and bus sales of PAMA member companies in July 2017 remained strong, growing 13% YoY. The trend is expected to continue, fuelled by the China-Pakistan Economic Corridor (CPEC) led growth, higher road connectivity, lower financing rates and enforcement of the axle load limit per truck on highways by the National Highway Authority.
Two and three-wheel vehicle sales for July 2017 grew strongly by 42% YoY due to rising disposable income of the lower middle class, the report added.
Why Pakistan should switch to hybrid cars
Tractor sales continued to exhibit an upward trajectory with sales growing by 125% YoY in July 2017.
Lower general sales tax, improved crop yield due to Punjab government’s Kisan Package and continuation of fertiliser subsidy to improve farmers’ purchasing power contributed to the strong tractor sales.
Moreover, in the provincial budget for fiscal year 2018, the Sindh government has set aside Rs2 billion in subsidy on tractor purchases by farmers.
#Pakistan Develops a Taste for Fast Food - #Pizza Hut to double no of restaurants. Bloomberg
Pizza Hut to double outlets to 150 over five years in Pakistan
Two-thirds of the world’s sixth-largest nation is under 30
Food franchises are booming across Pakistan’s big cities as incomes swell and more women enter the workforce, leaving them with less time and inclination to fulfill the traditional role of cooking for the family. Almost two-thirds of the 200 million population are younger than 30 and cultural attitudes are changing in the Islamic Republic, helping make it the fastest-growing retail market.
Eating out will soon become a "necessity over the weekdays,” said Anwar, whose Crescent Star Foods Pvt. plans to increase its number of franchised restaurants, including California-based Fatburger, to 100 in a decade from less than a dozen. "Home-cooked food will become a luxury over the weekend.”
Yum! Brands Inc.’s Pizza Hut also plans to double its Pakistan stores to as many as 150 over the next five years and will list locally in that period. Foodpanda, backed by Germany’s Rocket Internet SE, expects to deliver meals to 2 million hungry Pakistanis each month by 2021 from about 400,000 now.
The country’s food delivery industry will more than double to $2 billion by that time, said Nauman Sikandar Mirza, Foodpanda’s chief executive officer.
Disposable incomes have doubled since 2010 and about 40 percent of household expenditure is on food. That’s more than Indonesia and Turkey, according to data from the U.S. Department of Agriculture. Spending in Pakistan is bolstered by the lowest interest rates in 44 years as the pace of inflation has halved since 2014.
“Pakistan has one of the youngest populations in the world and the increase in fast food retail along with other retail segments partly reflects the stabilizing economic backdrop,” said Rahul Bajoria, a senior economist at Barclays Plc in Singapore. “Similar trends are being observed in the rest of South Asia as wel
However, there are economic headwinds which may dent the food boom. A deteriorating external position puts at risk the government’s targeted 6 percent expansion for the year through June 30, which would be the fastest pace in more than a decade, said Bajoria. Pakistan’s imports hit a record in May and the current account gap more than doubled to $2.6 billion in July and August from a year earlier.
Even so, not many are deterred.
“The market is growing, people have more money to spend on fast food -- we plan to open more outlets,” said Omar Qadri, chief operating officer at One Potato Two Potato, which has about 50 restaurants with most in Pakistan’s main cities of Islamabad, Lahore and Karachi. “We are still not in a lot of places like Peshawar, Multan. These are big markets we haven’t even entered yet.”
Ice Cream and Frozen Desserts in Pakistan
Ice cream and frozen desserts grew by 10% in current value terms to reach PKR16 billion in 2016, boosted by continued product innovation, promotions and investments in the distribution network by leading manufacturers.
Engro Foods (Pvt) Ltd is set to take over the leadership of ice cream and frozen desserts from Unilever Pakistan with a value share of 42% in 2016, with the former leader trailing second with a value share of 40%.
New product launches are expected to continue positively impacting the category’s size. In addition, enhancements in cold chains and distribution networks will bring more remote and rural areas under the reach of leading manufacturers.
135 Million Millennials Drive World's Fastest Retail Market
Middle class expected to surpass U.K., Italy over 2016-21
September 28, 2017, 1:00 PM PDT
Nearly two-thirds of Pakistan population under 30 years old
Pakistan’s retail stores forecast to grow by 50% in 5 years
Pakistan’s burgeoning youth and their freewheeling attitude toward rising incomes have turned the nation into the world's fastest growing retail market.
The market is predicted to expand 8.2 percent per annum through 2016-2021 as disposable income has doubled since 2010, according to research group Euromonitor International. The size of the middle class is estimated to surpass that of the U.K. and Italy in the forecast period, it said.
Pakistan's improving security environment, economic expansion at near 5 percent and cheap consumer prices are driving shoppers to spend up big. Almost two-thirds of the nation's 207.8 million people are aged under 30, according to the Jinnah Institute, an Islamabad-based think tank.
“We have a new millennial shopper at hand. They don’t mind spending to have the kind of lifestyle they would like,” said Shabori Das, senior research analyst at Euromonitor. “It’s not like the Baby Boomer generation where savings for the future generation was important.”
Pakistan is bucking the trend in the U.S. -- where stores are closing at a record pace as e-commerce undermines bricks-and-mortar. It's also attracting foreign operators: Turkish home appliance maker Arcelik AS and Dutch dairy giant Royal FrieslandCampina NV entered the market last year via acquisitions. Meanwhile, Hyundai Motor Co., Kia Motors Corp. and Renault SA are all building plants in the South Asian nation.
Pakistan’s retail stores are expected to increase by 50 percent to 1 million outlets in the five years through 2021, Euromonitor said. Its three biggest malls, Lucky One in Karachi and Packages Mall and Emporium Mall in Lahore, opened in the past two years.
Pakistan is mirroring what India went through about four years ago. Both countries have young populations with more income and less inclination toward saving which is a distinct difference to what retailers elsewhere are dealing with, said Das.
#Pakistan: #Male #beauty salons boom despite strict notions of masculinity. #grooming #middleclass #men #salon https://www.thenational.ae/world/asia/pakistan-male-beauty-salons-boom-despite-strict-notions-of-masculinity-1.707356 … via @TheNationalUAE
Nails are buffed, blackheads scrubbed and coffee sipped to the sound of clipping scissors inside the "Men's" salon in Pakistan's capital Islamabad, where a growing number of male patrons are set on revamping their style.
Pakistan has strict notions of masculinity, with men often expected to be austere and flamboyant styling to be avoided.
But savvy entrepreneurs in urban centres have latched on to a new metrosexual trend: male beauty salons.
While women in urban Pakistan have long enjoyed access to the care of beauticians and stylists, expensive facials and mani-pedis for men are becoming more common as disposable incomes in the nation's swelling middle class grow — per capita income jumped by 6.4 per cent in 2017.
A vibrant social media culture has also fuelled the desire to be selfie-ready at any time, with male influencers like Adnan Malik and Osman Khalid Butt attracting hundreds of thousands of followers online with their fashion-conscious posts.
At Tauseeq Haider's "Men's" salon, customers usually fork out a minimum of 1,400 rupees (Dh79) for a visit — a far cry from the 200 rupees spent at traditional barber shops.
"Men have equal right to be groomed and times have changed. It's no more just getting your haircut," says Mr Haider.
"Senior citizens, bureaucrats, they don't feel ashamed of saying that I need a facial, massage, my nails need to be done, please suggest what should I get," he adds.
In rural Pakistan, men have traditionally taken their fashion tips from Islamic dictates, with the Koran specifying the length of beard and moustache along with hygiene guidelines.
And in the cities, Bollywood and western entertainment have long driven fashion trends for conscientious groomers.
But times are changing fast in the rapidly developing country, with social media setting and wrecking trends in urban centres at the speed of a swipe.
According to Lebanese salon owner Michael Kanaan, who has been based in Pakistan for more than a decade, rising wages and greater exposure to global culture is fanning the burgeoning demand.
"The Pakistan male is becoming more metrosexual. It is all due to the internet and the age of satellites and TVs," he says.
Economist Minhajul Haque agrees, saying Pakistani men are also subjected to a new slew of online advertising campaigns that have reinforced the trend.
"There is this whole lot of clever marketing of male beauty products which is spurring demand," he adds.
Humayun Khan, 49, says he is fine with spending more money to look good and his wife is supportive of the new passion.
"I … get my nails done, get my haircut, get my facial and I am done for the day and after two weeks I come again," he says.
"If I don't look good, my wife wouldn't like me," he adds, laughing.
Stylist Ghulfam Ghori says Pakistani men are also now more concerned with skincare, opting for blackhead removal, acne treatments and even the occasional brush with make-up before major events like weddings.
"Men are very conscious about their skin now … and consider it essential to get facials. Previously it was not common, but now the trend is increasing among men to get themselves groomed," he says.
But it's not just the salons that are cashing in on Pakistani men's blossoming cosmopolitan predilections.
"I can say there is a revolution coming up in Pakistan in the male psyche that they are becoming very much conscious about their beauty, about their face, about their hair, about their dress," says Zafar Bakhtawari, chairman of the D Watson Group, one of Pakistan's biggest pharmacy chains.
IHOP plans to open its first location in #Pakistan. The first branch of the #American #pancakes #restaurant will open in #Karachi, and will be followed by 18 more across the country over the next nine years, https://www.bloomberg.com/news/articles/2019-03-18/pancakes-are-coming-to-pakistan-as-ihop-to-open-19-restaurants via @markets
IHOP plans to open its first location in Pakistan by the end of the year, part of the American pancake restaurant’s efforts to seek new revenue abroad.
The first branch will open in Karachi, and will be followed by 18 more across the country over the next nine years, parent Dine Brands Global Inc. said Monday. Nine of the franchises will be operated by Pakistan-based Gerry’s Group, and the rest will be sub-franchised.
After a couple of dismal years, the chain has rebounded recently under Dine Brands Chief Executive Officer Steve Joyce, who said in a statement that international development is a major component of the company’s return to growth. Same-store sales, a key performance metric for restaurant chains, have climbed for the past four quarters. Joyce cited Pakistan’s rapidly growing economy as part of the reason to open there.
Dine Brands has already signed deals to expand IHOP into Peru and Ecuador this year, and to open more locations in Canada. The chain already has a presence in 14 countries including India, Thailand and Guam, and is exploring options in the U.K.
'Inspired by #NewYork's Central Park': the new city for a million outside #Pakistan's biggest city #Karachi is a huge gated community with its roads fringed with neatly trimmed hedges, palm trees and lush green grass, it is called #BahriaTown https://www.theguardian.com/cities/2019/jul/08/inspired-by-central-park-the-new-city-for-a-million-outside-karachi?CMP=share_btn_tw
The economic heart of Pakistan is an overcrowded and often violent megacity with an official population of 15 million (closer to 20 million if the urban sprawl beyond the city perimeter is included). Infrastructure has not kept pace with its rapid expansion, and basic amenities such as water have become a commodity for criminal gangs. The city is also an organisational centre for the Pakistani Taliban, who attacked the airport in 2014.
Bahria Town expands over Karachi’s eastern periphery, and offers residents a way to buy their way out of proximity to criminal gangs and terrorists, hectic traffic and power cuts. The wildly ambitious housing development is the brainchild of the property mogul Malik Riaz, one of the 10 wealthiest people in Pakistan and a close associate of the country’s former president Asif Ali Zardari.
The new city promises to “turn the vision of modern Pakistan into a reality”, with private and secure supplies of water, gas and electricity, as well as privately maintained roads. The developer, also called Bahria Town, says it is Asia’s largest private real estate company, employing 25,000 people. It has already built smaller planned communities outside Lahore and Islamabad, but the 45,000-acre Karachi project is on a different scale.
Once complete it will accommodate 1 million people, and is already home to a zoo, an 18-hole golf course and a theme park featuring fairground rides. The site is dotted with scaled-down imitations of world attractions such as the Parthenon and the Eiffel Tower. Smooth tarmac streets lined with palm trees and uniform villas eventually peter out into rocky construction sites, and unfinished properties dot the sides of the road. Construction has begun on a mosque complex that will be the third largest in the world.
Bahria Town’s website offers Karachiites who can afford it the chance to live “amidst soft grass and pure class”, advertising its luxury villas as “Pakistan’s first lifestyle community developed around a huge green area inspired by Central Park, New York, with a replica of Taj Mahal”. The residences on offer range from apartments to standalone villas to luxury farmhouses, at a range of prices targeted not just at Pakistan’s elite but at the middle classes too.
It makes sense to buy here because it looks like the future
Asif Munir, prospective buyer
Although the vast development is only part-built, more than half of the plots are reportedly sold. Some sections are already inhabited, and facilities including a large modern hospital, the theme park and Pizza Hut and Burger King restaurants are already open.
For many Pakistanis, the modern convenience offered by Bahria Town is an attractive proposition. “Since before my son was born, I have been saving to one day buy him a residence for his own family – and now it makes sense to buy here because it looks like the future,” says Asif Munir, a small-business owner from Karachi who is considering purchasing a plot. “The cost of the apartment includes not just reliable water and light but safety because it is far away from criminal gangs.”
But the development has been mired in controversy since its inception in 2014, most notably over allegations of illegal land appropriation. In May last year the supreme court ruled that much of the land had been illegally procured. In December, it ordered a halt on all construction. As the case works its way through court alongside a simultaneous case in the National Accountability Bureau anti-corruption court, villagers who have lived in this area for centuries are feeling the impact.
In Pakistan, it’s middle class rising
S. Akbar Zaidi
he general perception still, and unfortunately, held by many people, foreigners and Pakistanis, is that Pakistan is largely an agricultural, rural economy, where “feudals” dominate the economic, social, and particularly political space. Nothing could be further from this outdated, false framing of Pakistan’s political economy. Perhaps the single most significant consequence of the social and structural transformation under way for the last two decades has been the rise and consolidation of a Pakistani middle class, both rural, but especially, urban.
Data based on social, economic and spatial categories all support this argument. While literacy rates in Pakistan have risen to around 60%, perhaps more important has been the significant rise in girls’ literacy and in their education. Their enrolment at the primary school level, while still less than it is for boys, is rising faster than it is for boys. What is even more surprising is that this pattern is reinforced even for middle level education where, between 2002-03 and 2012-13, there had been an increase by as much as 54% when compared to 26% for that of boys. At the secondary level, again unexpectedly, girls’ participation has increased by 53% over the decade, about the same as it has for boys. While boys outnumber girls in school, girls are catching up. In 2014-15, it was estimated that there were more girls enrolled in Pakistan’s universities than boys — 52% and 48%, respectively. Pakistan’s middle class has realised the significance of girls’ education, even up to the college and university level.
In spatial terms, most social scientists would agree that Pakistan is almost all, or at least predominantly, urban rather than rural, even though such categories are difficult to concretise. Research in Pakistan has revealed that at least 70% of Pakistanis live in urban or urbanising settlements, and not in rural settlements, whatever they are. Using data about access to urban facilities and services such as electricity, education, transport and communication connectivity, this is a low estimate. Moreover, even in so-called “rural” and agricultural settlements, data show that around 60% or more of incomes accrue from non-agricultural sources such as remittances and services. Clearly, whatever the rural is, it is no longer agricultural. Numerous other sets of statistics would enhance the middle class thesis in Pakistan.
"This challenge is the massive efforts being made by the 1.3 billion Muslims to modernize and create the same kind of comfortable and secure middle-class living standards that most American and Chinese citizens already enjoy. Fortunately, most Muslim societies are slowly and steadily succeeding, including the most populous Islamic countries of Indonesia and Malaysia, Pakistan and Bangladesh. Over time, these more successful Islamic societies will have a positive impact on some of the more troubled Arab nations in the Middle East."
Mahbubani, Kishore. Has China Won? (pp. 279-281). PublicAffairs. Kindle Edition.
About SPAR Pakistan
SPAR is a supermarket offering fresh fruits and vegetables, fresh meat, grocery and household products with an in-store pharmacy and bakery.
SPAR is an international retail chain with over 13,000+ stores in 48 countries. In Pakistan SPAR Supermarket has 3 stores and has plans to expand across the country.
The store has its presence in two locations in Karachi; one at Alamgir Road, Sharfabad and the other at Miran Shah Road, Muhammad Ali Society/KDA scheme 1. The Faisalabad store is located on Eden Valley Road.
KARACHI SPAR SHARFABAD MS Tower, Alamgir Road, Sharfabad, Karachi SPAR KDASaima Twin Tower, Miran Shah Road, M.Ali Society, Karachi Map linkSPAR NORTH NAZIMABAD Shahrah-e-Humayun, North Nazimabad, Block F, Karachi. SPAR D.H.A PHASE VIII9-C, Lane 4, Phase VIII, Zulfiqar & Al Murtuza commercial area, Phase 8 Defence Housing Authority, Karachi, 75500
International supermarket chains in Pakistan:
Carrefour (Hypermart) French
Metro Cash & Carry German
Imtiaz Supermarket local Pakistani chain
International Fast Food Chain Restaurants in Pakistan
22 – Fatburger
21 – Butlers Chocolate Cafe
20 – Cinnabon
19 – Texas Chicken
18 – CP Five Star
17 – Pepe’s Piri Piri
16 – Uncle Tetsu
15 – P.F. Chang’s
14 – Gloria Jeans
13 – Coffee Bean & Tea Leaf
12 – Nandos
11 – Papa Johns
10 – Hardees
9 – Johnny Rockets
8 – Baskin Robbins
7 – Subway
6 – KFC
5 – Dominos
4 – Dunkin Donuts
3 – Pizza Hut
2 – Burger King
1 – McDonald’s
Fast food in Pakistan
Fast food is highly appreciated all around the world, including Pakistan where it is eaten by people in all age categories. Desi cuisines are almost equivalent to burgers and pizzas and both are all well-loved for the delicious tastes they have to offer.
Pakistan now has some of world’s most famous fast food chains that are very well celebrated. Here’s a list of some of them:
One of the most well-known fast food chains in the world, and one that is still expanding is McDonald’s. The first outlet was launched in 1988 in Lahore and soon opened in Karachi a week after. It receives immense love from people here till this day, and is mostly famous for their burgers and fries. It is a must-stop for all fast food lovers as it provides everything from delicious burgers and fries to desserts.
KFC launched its headquarters in Pakistan during the year 1997 in Karachi. It is now the second most leading fast food chain in Pakistan having opened its doors all over the country from an expansive menu of fried chicken, burgers and delicious sauces. KFC is and has been serving food with quality and taste all around the world since the beginning.
One of the oldest and most famous pizza places was founded by two brothers in 1958. This was Pizza Hut which is one of the first renowned pizzerias launched in Pakistan and remains popular till this day.
Pizza Hut now has an exceptionally large menu being served in Pakistan, starting from different flavours and toppings, all the way to different types of crusts. This chain is surely a treat for all pizza lovers in the country.
Domino’s Pizza was founded in Michigan, United States and was previously known as Dominick’s. Dominos have now taken Pakistan with a storm by being one of leading pizza places here, having various branches all over the country.
Their mouth-watering menu consists of delicious pizzas and delightful desserts.
Hardees is also one of the most favorite fast food places of Pakistan. The chain managed to open branches all around the country due to the immense popularity it gained. They are most famous for their char-grilled burgers and delicious beef burgers along with their mouth-watering sides of curly fries. Hardees is surely making its name in Pakistan’s fast food industry.
Burger King first opened their gates in Pakistan in October 2013, and since then have spread all around the country at a fast pace. Their menu consists of various kinds of burgers, fries and salads.
Burger King has everything on their menu to satisfy a fast food fanatic.
This is a complete guide for all fast food lovers in Pakistan. The chains have not only proven their name for quality services and tasty food, but also the ability to expand quite rapidly. With the growing food industry, we surely know the list doesn’t end here so watch out for some more blogs on growing fast food chains in Pakistan.
HAIER ANNOUNCES THE LARGEST EXCLUSIVE RETAIL NETWORK OF 300 STORES ACROSS PAKISTAN
Haier Pakistan is one of Pakistan’s leading home appliance brands, producing high-quality home appliances in many categories.
Haier introduces the best, environmentally-friendly, and innovative products with a wide range in different categories such as Air Conditioners, LED TVs, Refrigerators, Washing Machines, and more.
Haier proudly announces it has the largest exclusive retail network of 300 stores across Pakistan! With innovative and advanced technological solutions, Haier is committed to providing the best home appliances to our customers.
Haier took immense pride in celebrating the inauguration of 300 Haier stores countrywide. To celebrate this milestone, Haier went live from their social media pages on 30th March 2022 at Jumbo Electronics in Lahore.
At the ceremony, Mr. Usama Sultan, Head of Department of Exclusive Dealer Network, kicked off the event and shared valuable information regarding Haier Store Network. He addressed “Today we are gathered on grand inauguration of 300th Haier Store, Largest retail Network in home appliance industry. In Addition to this, we Have 4 smart Homes & 60 Smart Stores where you can experience smart living room, smart kitchen, smart bed room, smart laundry with live demonstration & largest product range. Our vision is to stretch our network in each level/town of Pakistan by targeting 500 stores & transform high-end store to experience store. Our brand store is equipped with ERP Software where you can view sell-in, sellout, financial reports, & manage customers data base. Another milestone is Haier Own Online Platform where all Brand Stores will be integrated online. Be part of No.1 Retail Network & secure your profits even 70% ROI in first year.”
It was later followed by an inspiring words delivered by Mr. Sohaib Rathore, Director Sales. Haier’s sales team shared the details of all products and their specifications to the audience, enlightening them about the products and their usage. The event was a huge success with a mammoth crowd in attendance at the grand celebration. The event was organized at Jumbo Electronics, near the main LOS Stop Near Lahore Center.
Haier Pakistan will continue to stay committed to its loyal customer base and will always be at the forefront in serving the nation with the most advanced technological solutions, for a smarter and better lifestyle.
Haier proudly inspiring lives every day!
Pak Suzuki breaks sales record
Despite inflation and economic crisis, Pak Suzuki has posted record sales. While on the other hand, Toyota has stopped its booking.
Pak Suzuki Motor Company (PSMC) has recorded high sales this year despite economic crisis. According to a recent source, the company broke its previous record of over 15,500 automobiles sold in December 2021 by selling more than 16,000 cars in June 2022.
Reports indicate that the new Suzuki Swift has significantly impacted the total increase in sales, despite the fact that the split of sales is unknown.
Additionally, PSMC is a strong competitor in Pakistan’s small-car industry thanks to its extensive product selection of city automobiles. The firm dominates the automobile industry with a market share of more than 60%.
However, predictions state that by late 2022 or early 2023, sales of all automakers, including PSMC, will likely drop as a result of rising gasoline and vehicle prices. Due to the accumulation of backlogged orders, the sales will continue to be steady for the time being.
Suzuki New Motorcycle Costs
A 7% increase has been noticed in the Suzuki GD110S. Compared to the previous price of Rs. 212,000, the bike now costs Rs. 219,000.
The Suzuki GS150’s price has increased by Rs. 7,000, costing Rs. 239,000 as opposed to Rs. 232,000 previously.
The third motorcycle, the Suzuki GS150SE, now costs Rs. 256,000 as opposed to Rs. 249,000 at the previous price, an increase of Rs. 7,000.
Last but not least, the business raised the cost of the Suzuki GR150 by Rs. 10,000, bringing the new price up to Rs. 349,000 from Rs. 339,000 previously.
As usual, the firm has not provided any explanation for this price rise. These price increases are cruel and unreasonable, especially in light of growing inflation. The general population can no longer afford the “Awaami Sawari.”
What do you think of the recurring monthly price increases for bicycles? Do you think it’s appropriate? Has purchasing a bike altered your spending plan? Comment with your ideas in the space provided.
Household Appliances - Pakistan | Statista Market Forecast
Revenue in the Household Appliances segment is projected to reach US$1,765.00m in 2022.
Revenue is expected to show an annual growth rate (CAGR 2022-2025) of 10.07%, resulting in a projected market volume of US$2,354.00m by 2025.
With a projected market volume of US$102,300.00m in 2022, most revenue is generated in China.
In the Household Appliances segment, the number of users is expected to amount to 20.8m users by 2025.
User penetration will be 6.4% in 2022 and is expected to hit 8.6% by 2025.
The average revenue per user (ARPU) is expected to amount to US$120.10.
Mani Shankar Aiyar: What #India's #Modi Has Not Recognised About #Pakistan: ITS RESILIENCE AND NATIONALISM http://www.ndtv.com/opinion/pakistans-resilience-beats-modis-56-inch-chest-771700 … via @ndtv
Note: Mani Shankar spent some time in Pakistan posted as a diplomat, serving as India's first consul-general in Karachi from 1978 to 1982. He's a former federal cabinet minister and current member of Rajya Sabha
"unlike numerous other emerging nations, particularly in Africa, the Idea of Pakistan has repeatedly trumped fissiparous tendencies, especially since Pakistan assumed its present form in 1971. And its institutions have withstood repeated buffeting that almost anywhere elsewhere would have resulted in the State crumbling. Despite numerous dire forecasts of imminently proving to be a "failed state", Pakistan has survived, bouncing back every now and then as a recognizable democracy with a popularly elected civilian government, the military in the wings but politics very much centre-stage, linguistic and regional groups pulling and pushing, sectarian factions murdering each other, but the Government of Pakistan remaining in charge, and the military stepping in to rescue the nation from chaos every time Pakistan appeared on the knife's edge. The disintegration of Pakistan has been predicted often enough, most passionately now that internally-generated terrorism and externally sponsored religious extremism are consistently taking on the state to the point that the army is so engaged in full-time and full-scale operations in the north-west of the country bordering Afghanistan that some 40,000 lives have been lost in the battle against fanaticism and insurgency.
"And yet," as was said on a more famous occasion, "it works!" Pakistan and her people keep coming back, resolutely defeating sustained political, armed and terrorist attempts to break down the country and undermine its ideological foundations. That is what Jaffrelot calls its "resilience". That resilience is not recognized in Modi's India. That is what leads the Rathores and the Parrikars to make statements that find a certain resonance in anti-Pakistan circles in India but dangerously leverage the impact on Pakistani public opinion of anti-India circles in Pakistan. The Parrikars and the Saeeds feed on each other. It is essential that both be overcome.
But even as there are saner voices in India than Rathore's, so also are there saner - much saner - voices in Pakistan than Hafiz Saeed's. Many Indians would prefer a Pakistan overflowing with Saeeds to keep their bile flowing. So would many Pakistanis prefer an India with the Rathores overflowing to keep the bile flowing. At eight times Pakistan's size, we can flex our muscles like the bully on the school play field. But Pakistan's resilience ensures that all that emerges from Parrikar and Rathore are empty words. India is no more able than Pakistan is to destroy the other country"
Indian Diplomat Sharat Sabharwal on Pakistan's "Resilience", "Strategic" CPEC, China-Pakistan "Nexus"
Retired Indian diplomat Sharat Sabharwal in his recently published book "India's Pakistan Conundrum" disabuses his fellow Indians of the notion that Pakistan is about to collapse. He faithfully parrots the familiar Indian tropes about Pakistani Army and accuses it of sponsoring "cross-border terrorism". He also writes that "Pakistan has shown remarkable resilience in the face of adversity". "Pakistan is neither a failed state nor one about to fail", he adds. He sees "limitations on India’s ability to inflict a decisive blow on Pakistan through military means". The best option for New Delhi, he argues, is to engage with Pakistan diplomatically. In an obvious message to India's hawkish Hindu Nationalist Prime Minister Narendra Modi, he warns: "Absence of dialogue and diplomacy between the two countries carries the risk of an unintended flare-up". Ambassador Sabharwal served as Indian High Commissioner to Pakistan from 2009 to 2013. Prior to that, he was Deputy High Commissioner in Islamabad in the 1990s.
Fast Food: 2nd largest
industry in Pakistan
by Prof. Dr. Noor Ahmed Memon, (Dean KASBIT).
How big is the fast food industry in Pakistan?
Fast Food Industry in Pakistan is the 2nd largest in Pakistan. accounts for 27% of its value added production and 16% of the total employment in manufacturing sector with an estimated 180 million con- sumers, Pakistan holds the world's eighth largest market when it comes to fast food and food related business.
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