Sardar Yasir Ilyas Khan, President, Islamabad Chamber of Commerce and Industry (ICCI) has called upon the government to incentivize the international brands in Pakistan by reducing duties on their import that would reduce their prices and make them affordable for general consumers besides bringing healthy competition in the domestic market. He said this while inaugurating the very first Hugo Boss store in Pakistan that has been opened by Sun Sports Karachi in Centaurus Mall, Islamabad. Fatma Azim Senior Vice President, Abdul Rehman Khan Vice President ICCI, Abdul Samad Zeeshan Franchisee of Huge Boss store, Omais Khattak, Umar Hussain, Aslam Khokhar, Abdul Rehman Siddiqui, Rana Qaiser Shehzad, Naeem ur Rehman Paracha, Shaukat Hayat, Hafiz Bilal Munir, Muhammad Shakir, Saeed Khan, and others were also present at the occasion. Sardar Yasir Ilyas Khan said that the labor cost in Pakistan was quite cheap and provided a great advantage to international investors for penetration in Pakistan and urged that the government should also provide good incentives to the manufacturers of international brands in order to attract them for JVs and investment in Pakistan. It would help the country to increase exports of international brands and further strengthen its forex reserves. He said that the larger presence of international brands in Pakistan would increase the confidence of foreign investors in the Pakistani market and attract more FDI to the country. He said that the entry of more international brands and their manufacturers in Pakistan would also bring more competition in the domestic market and motivate the local industry to upgrade itself for producing world class products that would give a boost to our exports as well.
ICCI President said that Pakistan was a huge market of over 220 consumers and international brands including retailers and food chains have great potential for JVs and investment in Pakistan. However, they needed good incentives, consistent policies from the government side to penetrate the Pakistani market. He further emphasized that FBR should focus on further simplification of the taxation system that would encourage more international brands towards Pakistan. He congratulated the franchisee of Hugo Boss and wished him great success in business.
Speaking at the occasion, Abdul Samad Zeeshan, Head of Sportswear/Fashion at Sun Support and Franchisee of Hugo Boss said that Sun Sports is a well-established name in the category of Sports & Lifestyle, supplies some of the exclusive brands in Pakistan through its chain of sports stores located in the major cities of Pakistan. He said that Sun Sports has successfully marketed and distributed a number of globally renowned sports brands in the Pakistani market and has gained tremendous popularity and credibility among the retailers and the customers. He said that being a progressive company equipped with highly-trained professionals of the industry, Sun Sports always seeks for premium brands to represent in Pakistan.