BAFL 46.25 Increased By ▲ 0.50 (1.09%)
BIPL 20.19 Decreased By ▼ -0.03 (-0.15%)
BOP 5.30 Decreased By ▼ -0.05 (-0.93%)
CNERGY 4.61 Increased By ▲ 0.06 (1.32%)
DFML 16.61 Increased By ▲ 0.64 (4.01%)
DGKC 78.06 Decreased By ▼ -0.63 (-0.8%)
FABL 28.21 Increased By ▲ 0.36 (1.29%)
FCCL 20.07 Increased By ▲ 1.21 (6.42%)
FFL 9.14 Increased By ▲ 0.16 (1.78%)
GGL 12.84 Decreased By ▼ -0.02 (-0.16%)
HBL 111.51 Decreased By ▼ -0.39 (-0.35%)
HUBC 123.69 Increased By ▲ 1.49 (1.22%)
HUMNL 7.65 No Change ▼ 0.00 (0%)
KEL 3.27 Increased By ▲ 0.03 (0.93%)
LOTCHEM 28.30 Increased By ▲ 0.32 (1.14%)
MLCF 41.81 Decreased By ▼ -0.64 (-1.51%)
OGDC 115.39 Increased By ▲ 4.71 (4.26%)
PAEL 19.05 Increased By ▲ 0.16 (0.85%)
PIBTL 5.53 Increased By ▲ 0.06 (1.1%)
PIOC 112.85 Decreased By ▼ -2.45 (-2.12%)
PPL 100.04 Increased By ▲ 5.05 (5.32%)
PRL 25.64 Increased By ▲ 0.27 (1.06%)
SILK 1.10 Decreased By ▼ -0.01 (-0.9%)
SNGP 67.52 Increased By ▲ 3.02 (4.68%)
SSGC 12.54 Increased By ▲ 0.27 (2.2%)
TELE 8.46 Increased By ▲ 0.07 (0.83%)
TPLP 13.39 No Change ▼ 0.00 (0%)
TRG 85.46 Increased By ▲ 1.36 (1.62%)
UNITY 26.60 Increased By ▲ 0.75 (2.9%)
WTL 1.57 Increased By ▲ 0.03 (1.95%)
BR100 6,377 Increased By 82.2 (1.31%)
BR30 22,376 Increased By 439.3 (2%)
KSE100 62,493 Increased By 801.8 (1.3%)
KSE30 20,829 Increased By 274.3 (1.33%)

LAHORE: The retail sector in Pakistan is organizing rapidly through value-addition, contributing a large chunk of the total $58 billion retail and wholesale trade, which amounts to 18% of the total GDP and employs over 14% of the national workforce.

The retail trade is the spearhead of the domestic economy, where every product produced for the local population is purchased by the consumers.

These views were expressed by Chainstore Association of Pakistan (CAP) Chairman Tariq Mehboob Rana, while giving a presentation to media, regarding Second Edition of the International Pakistan Future Retail Summit and Expo FOR2022, organized by the CAP in collaboration with Swyft Logistics and Terrabiz, in Lahore on 13th of December 2022.

Tariq Mehboob Rana said that all is set for this Retail Summit and Expo, where a number of world-leading speakers have confirmed to participate in this historical event. He said that the event will bring together representatives of leading retail and chain stores, logistics providers, banks and financial services, shopping malls, e-commerce platforms, and policymakers to discuss the changing dynamics of consumer behavior and the state of consumer sales in Pakistan. This is the second event of the series; the first was held earlier this year in Karachi, he added.

CAP Chairman said that the FOR2022 summit would open many new avenues for retail trade in Pakistan. “Many business leaders and renowned experts from leading brands and allied businesses will share their professional experience and wisdom at the confluence of innovation, technology, and human capital,” he said.

He said that the collective innovation of the entire retail ecosystem is the need of the hour, especially considering that the sector is increasingly digitalized, professionalized, and formalized.

In the current economic environment, smuggling, poor tax culture, and an uneven regulatory playing field are robbing documented businesses of their competitiveness and are hurting the national exchequer as well.

Despite this, through initiatives such as this conference, retailers and all industry stakeholders must share and adopt innovative solutions to survive, and eventually thrive, for the betterment of the domestic economy of our nation.

He said another key challenge is the banking landscape in Pakistan, which appear to have largely neglected this backbone sector of the economy due to various regulatory and commercial factors. “There is a dire need to provide broad access to easy financing and end-to-end digital payment solutions, for which the sector is encouraged by the rise of fintech businesses.

Copyright Business Recorder, 2022


Comments are closed.

Retail sector spearheads domestic economy, says CAP

KSE-100 retreats slightly after closing in on 63,000, still ends 1.3% higher

Inter-bank: rupee registers 5th successive gain against US dollar

Open market: rupee gains further against US dollar

No crisis on election finances: Solangi

Imran Khan wants ‘ex-army general, US envoy’ to be summoned for cipher trial: lawyer

Suzuki Motor proposes purchase of minority shareholders’ stake at minimum Rs406 per share

PM Kakar calls for timely completion of work to unlock climate funds

India's Modi seen unstoppable after surprise state polls sweep

Israel orders Gazans out of swathes of Khan Younis

Haris Rauf, Usama Mir and Zaman Khan get NOCs for BBL 9