Coca Cola to invest US$350 million in Pakistan
A delegation of the Coca Cola Company led by its President Eurasia & Africa Group, Mr. Nathan Kalumbu met Finance Minister, Senator Mohammad Ishaq Dar here on Thursday and briefed him about the company’s investment plans in Pakistan.
Finance Minister, Senator Mohammad Ishaq Dar welcomed the delegation and said the present government offers a liberal investment regime and facilitates all foreign investors in accordance with existing regulations of the country. He briefed Mr. Kalumbu about the economic achievements of the government and said that having achieved economic stability it was now on the path of economic growth and job creation.
Mr. Nathan Kalumbu apprised the Finance Minister that encouraged by the economic turnaround and stability achieved by Pakistan in the last two years and the positive rating accorded to it by international rating agencies, the Coca Cola Company has already started implementing its plan to invest over US$350 million in the country. He added that Coca Cola is already a leading US investor in Pakistan.
Unveiling the investment plan, Mr. Kalumbu stated that three new Coca Cola plants are being established at Karachi, Multan and Islamabad and the fresh investment would further contribute to strengthening of economy and job creation. He said Pakistan is ranked 7th in size in Coca Cola’s Eurasia and Africa group which includes 84 countries and the company accords it due importance in terms of production, marketing and other commercial activities.
Mr. Kalumbu shared with the Finance Minister, information about the company’s projects and programmes for community welfare which he said was a regular feature for Coca Cola wherever it had established business. He said the company presently employed over 4000 persons, a number that would increase significantly with the new cache of investment.
Members of the delegation which also included Mr. Curtis A. Ferguson, President Coca Cola Middle East & North Africa (MENA), Rizwanullah Khan General Manger Pakistan and Afghanistan Region, Mr. John Mathew Galvin, General Manger Coca Cola Beverages Pakistan Ltd and Mr. Fahad Qadir, Director Public Affairs & Communications Pakistan & Afghanistan Region, thanked the Finance Minister for sparing time out of his busy schedule to meet them and assured the Coca Cola company would do its utmost to contribute positively to Pakistan’s economy.
The meeting was attended by senior officials of the Ministry of Finance and FBR.