Unilever announces USD 120 Million investment in Pakistan
19 March 2018, ISLAMABAD: Unilever has announced an investment of USD 120 Million (PKR 11 Billion) in Pakistan acknowledging the country’s high potential for long-term growth. The announcement was made by a delegation of Unilever Pakistan that called on Miftah Ismail, Adviser to Prime Minister on Finance.
A majority of the investment will be made to enhance manufacturing operations across Unilever’s four factories in Pakistan over the next two years. This is a testament to Unilever’s commitment to growing the business in Pakistan and highlights the increasing uptake of consumer good products across the country.
Adviser Finance, whilst appreciating the initiative of Unilever, added that the investment was indeed an acknowledgement of the country’s growth potential and the macroeconomic stability it has gained during the last four years of the current Government.
Shazia Syed, Chairperson & CEO, Unilever Pakistan Limited, highlighted “We have been a part of Pakistan’s growth for nearly 70 years, during which time we have seen our business grow to over 30 brands in areas of Home Care, Personal Care, Foods, Beverages and Ice Cream. We take pride in the fact that over 95% of our brands are produced locally, creating employment for thousands, contributing to the exchequer of the country and simultaneously creating a better future every day for the people of Pakistan.”
Unilever’s operations in Pakistan are counted amongst the best performing businesses units within Unilever’s global operations. In 2013, Unilever Overseas Holding, which is a majority shareholder in Unilever Pakistan Limited, invested over €400 Million (USD 530 Million) in Pakistan which is the single largest foreign direct investment in the recent history of Pakistan. This investment re-affirmed Unilever’s strong commitment to local operations and to Pakistan’s economic potential.