Wednesday May 25, 2022

UK-Pakistan Business Council: 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.