Makro to set up 30 stores in Pakistan

Islamabad: Marek Andrej Minkiewicz, the CEO and Managing Director of Makro Stores in Pakistan informed that Makro Habib plans to invest around $300 million in the next four years out of which $200 million will be inward remitted as foreign direct investment. He said the monthly turnover of each store is around Rs 160 million. Secretary Industries and Secretary Board of Investment attended the meeting.

Farhad Zulfiqar, executive chairman of Makro Habib Pakistan, a joint venture between Makro Cash and Carry, a leading Dutch wholesaler of food and non-food products in Asia and South America and House of Habib Pakistan, said that Makro Cash and Carry has 172 stores worldwide, including in five countries of Asia and four countries of South America and has an annual turnover exceeding four billion euros. In Pakistan, the company has so far set up four stores in Karachi and Lahore, and plans to set up 30 stores, he said.