Karachi: The Pakistan Business Council (PBC), the Ministry of Commerce, and the State Bank of Pakistan (SBP) are considering various collaboration proposals for boosting local exports and promoting Pakistani brands abroad — a news source reported.
The trio have also begun work to develop Pakistan-based export brands, and establish warehouses abroad to boost earnings from exports.
Speaking on the matter, PBC CEO Ehsan Malik said that the pandemic and its impact on the global economy had left a void that could be filled by Pakistani brands — allowing them to export and establish a foothold in the international markets.
He further said that due to the coronavirus pandemic, many foreign firms were selling their brands and companies at much lower prices. As a result, these could be acquired by local companies and turned into made-in-Pakistan brands. This would then allow them to yield higher export values, as compared to unbranded items.
The PBC CEO gave the example of a Sri-Lankan textile firm that was able to raise the price of its garments from around USD 3 each to USD 50 each, simply because of the fact they could establish their own brand and respective outlets in India.
