Daily Times

Pakistani entrepreneurs have full potential to capture the international markets if they develop international standard “brands” but unfortunately they do not develop their own brand like KFC, McDonald’s, Guard, Bata and Chenone.

Chairman UK-Pakistan Business Council (UPBC) Mian Kashif Ashfaq made the remarks while talking to a delegation of exporters led by Sheheryar Khan, an honorary Investment Counsellor Milan, Italy, here on Sunday.

During the meeting, he urged Pakistani entrepreneurs to develop international standard “brands” in order to capture open global markets by fully exploiting indigenous potentials, expertise and resources.

Highlighting the significance of brands, the chairman UPBC said it is high time for Pakistani entrepreneurs, corporate sector, especially younger business magnates, to focus on developing brands.

He said vertical integration and institutional networks are to be strengthened on modern scientific lines to meet the future challenges of global marketing.

Kashif said that the private sector has to come forward to develop their own brands on war footings for their survival otherwise the neighbouring countries will continue to dominate and sweep international markets.

He said Pakistan is producing some of the best products in the world in sports, textile, fruits, vegetables, handicrafts and in several other sectors but not exporting them under its own Pakistani brands.

Kashif urged the government to conduct market research in an attempt to search new export destinations for Pakistani products, which were considered the best in the world as far as quality and prices were concerned.

“Pakistani missions abroad should be duty bound to introduce Pakistani products there and ensure dissemination of trade-related information so that local entrepreneurs could avail trade opportunities to the maximum,” he added. He said he always encourages genuine exhibitors and facilitates them at optimum level. He urged the private sector to restore consumer faith and trust by manufacturing best quality products at competitive prices for the promotion of brands.

Kashif also called upon the government, private sector, academia and civil society to put efforts together to mentor, guide and support youth to unleash immense economic and social potential.

He said that youth accounts for over 60 percent of Pakistan’s population and it is essential to encourage them in entrepreneurship so that they could become more productive and contribute positively to the growth of the national economy.

He would also try to ensure a business-friendly environment by sharing views with the government and by taking all the stakeholders on board on all economy-related issues.

Earlier, Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood has repeatedly said that his vision is to promote ‘’Made in Pakistan’’ around the world. “In order to further enhance our exports, we have to pay attention to our own brand development. Our local brands still need to do a lot for recognition in the international market hence more effort is required from our exporters,” said Dawood.

He said that although potential is there, yet there is need to focus more on the branding side in order to get the desired results and make a place in the competitive market.

He said that the presence of Pakistani food brands in the retail store giant is an encouraging step that would encourage exporters to pay attention to develop brands.

He added that an alternative strategy is to acquire a foreign brand and further develop that brand. “Both systems have their merits, so our exporters are urged to pay attention to the process which is more long-term and ultimately more rewarding,” he said.