Metro plans to open more stores, invest in stock exchange

[Edevelop]

ISLAMABAD - Jeroen de Groot, METRO Cash & Carry International’s Chief Operating Officer (Germany) and Nadeem Rehmani, Director Operations METRO Cash & Carry Pakistan, have called on BOI Chairman Mohammad Zubair to discuss further investment plans of the company.
Jeroen de Groot said that the company is very much satisfied with its operations and existence in Pakistan. He said that before coming to Pakistan, we heard that this is not the safe country due to the travel advisory but I will suggest the foreign investors to visit Pakistan. The situation is not the same as it is portrayed in media, he said.
He further said that we promote the local market, 95% of the goods/items in the stores are produced in Pakistan and we export only 5 percent from Germany and other countries. “We acquire the breakeven in only 5 years after our operations in Pakistan. Even our performance is better than Metro of India. Our target is to open 30 stores in the next 3 years in Pakistan and company is also planning to invest in stock exchange.” During the meeting, Chairman BOI said that the new government policy initiatives and its top priority to overcome on energy crises, security issues and attraction of FDI promotion to put Pakistan on a fast track to attain sustainable economic growth. The government is also focusing on manufacturing, retail businesses and infrastructure development to promote industries in Pakistan.
Jeroen de Groot said that METRO Cash & Carry International (MCCI) operates more than 700 stores in 29 countries in Europe, Asia and Africa and has workforce of over 100,000 employees with Sales in 2012 were approximately 66.7 billion Euro.
Metro Pakistan opened its first Cash & Carry wholesale center in Pakistan in 2007 in Lahore. Thereafter, it expanded to 5 wholesale centers in a short span of 18 months in Pakistan. Each wholesale center, on an average has an investment of Rs. 2.0 billion and directly employs over 320 persons and 150 for auxiliary services. Additionally about 200 persons are employed at its head office. In July 2012 METRO Pakistan and Makro-Habib entered into merger for their wholesale businesses in Pakistan. Today the company is operating 9 wholesale centers in Lahore (4), Karachi (3), Islamabad (1) & Faisalabad (1). METRO- Habib serves as a catalyst for growth as it relies on supply of up to 90 % locally procured goods as well as services. In Pakistan, METRO established collection centres for local farmers providing them the opportunity to sell their produce directly at a fair market price. Metro has trained 56 Pakistani producer companies, to address gaps in knowledge and technical skills to promote local produce for export.

Metro plans to open more stores, invest in stock exchange

 

[problemfreeleader]

The Defence Research and Development Organisation of India (DRDO) is developing an E-bomb which will emit electromagnetic shock waves that destroy electronic circuits and communication networks of enemy forces,
So next time there is a Kargil or a LoC violation, you may not hear gunshots or mortar shells, because the electromagnetic bomb will throw life out of gear.

 

[SBD-3]

ISLAMABAD - Jeroen de Groot, METRO Cash & Carry International’s Chief Operating Officer (Germany) and Nadeem Rehmani, Director Operations METRO Cash & Carry Pakistan, have called on BOI Chairman Mohammad Zubair to discuss further investment plans of the company.
Jeroen de Groot said that the company is very much satisfied with its operations and existence in Pakistan. He said that before coming to Pakistan, we heard that this is not the safe country due to the travel advisory but I will suggest the foreign investors to visit Pakistan. The situation is not the same as it is portrayed in media, he said.
He further said that we promote the local market, 95% of the goods/items in the stores are produced in Pakistan and we export only 5 percent from Germany and other countries. “We acquire the breakeven in only 5 years after our operations in Pakistan. Even our performance is better than Metro of India. Our target is to open 30 stores in the next 3 years in Pakistan and company is also planning to invest in stock exchange.” During the meeting, Chairman BOI said that the new government policy initiatives and its top priority to overcome on energy crises, security issues and attraction of FDI promotion to put Pakistan on a fast track to attain sustainable economic growth. The government is also focusing on manufacturing, retail businesses and infrastructure development to promote industries in Pakistan.
Jeroen de Groot said that METRO Cash & Carry International (MCCI) operates more than 700 stores in 29 countries in Europe, Asia and Africa and has workforce of over 100,000 employees with Sales in 2012 were approximately 66.7 billion Euro.
Metro Pakistan opened its first Cash & Carry wholesale center in Pakistan in 2007 in Lahore. Thereafter, it expanded to 5 wholesale centers in a short span of 18 months in Pakistan. Each wholesale center, on an average has an investment of Rs. 2.0 billion and directly employs over 320 persons and 150 for auxiliary services. Additionally about 200 persons are employed at its head office. In July 2012 METRO Pakistan and Makro-Habib entered into merger for their wholesale businesses in Pakistan. Today the company is operating 9 wholesale centers in Lahore (4), Karachi (3), Islamabad (1) & Faisalabad (1). METRO- Habib serves as a catalyst for growth as it relies on supply of up to 90 % locally procured goods as well as services. In Pakistan, METRO established collection centres for local farmers providing them the opportunity to sell their produce directly at a fair market price. Metro has trained 56 Pakistani producer companies, to address gaps in knowledge and technical skills to promote local produce for export.

Metro plans to open more stores, invest in stock exchange

The market is becoming very lucrative for the big retail chains. The cost advantage of bulk-buying alongwith efficient supply chain is making these stores more competitive against the small retailers. No wonder they will expand everywhere to tap this potential.