Wednesday June 07, 2023

Entrepreneurs asked to develop world standard brands

By Our Correspondent
January 17, 2022

LAHORE: UK-Pakistan Business Council (UPBC) Chairman Mian Kashif Ashfaq on Sunday urged Pakistani entrepreneurs to develop international standard “brands“ to capture open global markets by fully exploiting indigenous potentials, expertise and resources.

Talking to a delegation of exporters led by Shehryar Khan, an honorary Investment Consular Milan, Italy, he highlighted the significance of brands and said it was high time for Pakistani entrepreneurs, corporate sector, especially younger business magnates, to focus on developing brands.

He said vertical integration and institutional network were to be strengthened on modern scientific lines to meet the future challenges of global marketing. “By the grace of Allah, Pakistani entrepreneurs have full potential to compete the international markets but unfortunately they do not develop their own brand.

He said that private sector had to come forward to develop their own brands on war footings for their survival; otherwise, the neighbouring countries would continue to dominate and sweep international markets. He said Pakistan was 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 Pakistan brands.

Ashfaq demanded the government 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.

Security policy: SAARC Chamber of Commerce and Industry Sunday hailed Pakistan’s new national security policy seeking peace with India for the next 100 years. President SAARC Chamber Iftikhar Ali Malik stated that peace with India and its immediate neighbours was central theme of Pakistan’s first-ever National Security Policy (NSP) unveiled by Prime Minister Imran Khan. He said it stressed that normalising commercial relations was contingent upon achieving progress in talks between the two nuclear-armed neighbours.

“NSP explains as “We are not seeking hostility with India for the next 100 years. The new policy seeks peace with immediate neighbours,” associated with the development”. He said the neighbours can’t be changed and urged both India and Pakistan it is high time to address all their core issues amicably. He said if world’s oldest disputes can be resolved why not both nuclear neighbours iron out their differences mutually.

He said South Asia housed one-fifth of the total world population and its share in international trade was hardly five percent. He said if both countries reach an agreement with consensus then all indigenous resources could be diverted towards development and people’s welfare besides durable peace in the region.