Islamabad, Tuesday, Nov 27: A senior delegation of The Coca-Cola Company, Pakistan and bottling partners Coca-Cola Içecek Turkey, led by Mr. Orhun Kostem Regional Director, met Prime Minister Imran Khan at PM Secretariat to discuss their short and long-term investment plans in Pakistan.
Coca-Cola shared that they have already invested over $500m in previous 5 years and plan to invest another $200m in coming 2-3years. This will create new jobs, support ancillary industries and help the Government earn incremental revenue through taxes, as the business grows further. The delegation expressed confidence in current Government and hoped that Coca-Cola’s investment will encourage other international companies to invest in Pakistan.
The delegation also discussed various challenges that are hampering industry’s growth, such as high rates of Federal Excise Duty. They apprised that the industry needs a level-playing field to ensure equal opportunities for all manufacturers and also bring additional tax revenue for Government. They also discussed the ongoing case of water charges for bottled water companies.
Prime Minister Imran Khan appreciated Coca-Cola’s confidence in Pakistan and assured his Government’s complete support for investors’ agenda. He shared his vision to make Pakistan a regional economic hub.
Also present in the meeting were Rizwan Khan, General Manager Coca-Cola Pakistan & Afghanistan Region, John Galvin, General Manager Coca-Cola Icecek Pakistan, Servet Yildrim, Director Corporate Affairs Coca-Cola Icecek Turkey, Fahad Qadir, Director Public Affairs & Communications for Coca-Cola Pakistan & Afghanistan Region, Hasan Adnan, Director PAC & HR Coca-Cola Icecek Pakistan, Faisal Hashmi Director HR & Government Affairs Coca-Cola Pakistan & Afghanistan Region, and Murad Akram, Director Legal for Coca-Cola Icecek. Government was also represented by Mr. Abdul Razak Dawood, Advisor for Commerce, Textile, Industry and Production, and Investment of Pakistan.