ISLAMABAD
Coca-Cola Company has asked the government for support on rationalisation of tax regime in Pakistan and to curb the infringement, as some groups is violating industrial property rights and this practice is not only defaming original brands and reducing the revenue of Pakistan.
Government of Pakistan may ensure operation of legitimate companies and take steps to provide level playing field to genuine investors, said Nathan Kalumbu, President (Eurasia and Africa Group) during a meeting with Secretary, Board of Investment, Iftikhar Babar.
They discussed different investment opportunities available and issues faced by M/s Coca-Cola in Pakistan. The Secretary, BOI welcomed the Coca-Cola delegation and informed them that Pakistan has one of the most liberal foreign investment regimes in South Asia. 100pc foreign equity is permitted in the manufacturing and infrastructure sectors of the economy as the country has a more market-oriented economy, with rapidly growing private sector and briefed about improved law & order situation of the country. He also offered Coca-Cola to establish a Special Economic Zone (SEZ) in Pakistan.
Nathan Kalumbu, President (Eurasia and Africa Group) Coca-Cola Company thanked BOI for cooperation and facilitation. He has informed about company’s future investment plans on the up-gradation and establishing of new plants in Pakistan. The Company has already invested $130 million during this year on the up-gradation of the existing plants in the country. He added that Coca-Cola is a leading US investor in Pakistan. Unveiling the investment plans, Kalumbu stated that the plant at Multan is operational since August, 2015 while two plants are being established at Karachi and Islamabad, this fresh investment of $350 million would further contribute to strengthen the economy and job creation in Pakistan.
Iftikhar Babar, Secretary, BOI said that BOI will extend full support to Coca Cola and assured that both the issues will be brought in the notice of concern authorities for conciliation / resolution.
