CAP to hold ‘Future of retail business summit & expo’ on 17th

LAHORE: The Chainstore Association of Pakistan has announced to hold 4th ‘Future of retail business summit and expo’ on October 17 in Lahore with the collaboration of the Terra Biz, which will be participated by hundreds of retailers from across the country.

The CAP newly-appointed chairman Asfandyar Farrukh stated that it is a pivotal event aiming to bring together industry leaders, policymakers, and allied stakeholders to discuss the future of retail in Pakistan, addressing the challenges faced by domestic commerce and exploring the transformative potential of the retail ecosystem.

He said that the summit will provide platform for retailers and businesses across the value chain to discuss the myriad challenges faced by domestic commerce, including rising electricity costs, over-regulation and the heavy tax burden on organized retail. Participants will delve into how these challenges hinder growth and innovation, underscoring the need for strategic policy changes and collaboration that can create more conducive environment for business.

Asfandyar Farrukh said that the discussions will emphasize that the organized retail has the potential to be a game changer for the Pakistani economy, provided it is supported with an enabling environment by policymakers. With a vibrant and growing consumer base, a thriving retail ecosystem can significantly contribute to job creation, economic diversification, and enhanced international competitiveness. However, to unlock this potential, stakeholders will advocate for reforms in Federal, Provincial and Local government regulations which are currently stifling growth, as well as improvements in the energy sector to reduce the sky-high operational costs for retail businesses.

Copyright Business Recorder, 2024