Pepsi-Cola International Limited (PCIL) will continue with its $1800 million annual investment in Pakistan as it sees a "huge potential" for long-term investment. Andy Nichol, Senior Vice President and Chief Financial Officer of PCIL for Asia, Middle East and African Division, in an exclusive interview here on Monday told Business Recorder.
"Pakistan has a great investment environment and, even in the challenging times, we would continue to invest behind the growth." He said that PCIL would donate Rs 10 million to the Institute of Chartered Accountants of Pakistan (ICAP) under its corporate social responsibility (CSR) program.
Nichol, a British national, has been serving PepsiCo for the last 21 years, since 1988. He has been visiting Pakistan in different capacities for past 10 years. Currently, he is here on a short trip "to catch up on the market". Terming Pakistan one of PepsiCo's key markets, he said that the company's approach towards the crisis-hit country was "very much focused on the long term".
He said: "Historically, we have been investing between ourselves and our franchise bottlers in Pakistan. We invest something around $1800 million per year on advertising and market based investment." He said that despite occasional disturbances on political and security fronts and other outside factors, like global recession, PepsiCo would remain committed to its key markets like Pakistan in terms of investment to stimulate growth.
Nichol said thst with annual consumption of "200 million cases" Pakistan is the 6th largest market for PepsiCo, after China, Mexico, Saudi Arabia, India and Russia. He said that PepsiCo would give Rs 10 million donation as 'Student Endowment Fund' to ICAP under its "strong" CSR program, under which the company had already granted around $4 million to various philanthropic organisations, like Shaukat Khanam Memorial Hospital, Care Foundation, Citizen Foundation, etc.
Asked if his firm had a plan for humanitarian aid to the displaced people of North-West Frontier Province, Nichol said: "We would continue to look at every possibility over the course of time... We do not have a specific plan." Expressing the company's resolve to "treat every occasion on its merit", the PCIL official said that Pepsi had a history of strong corporate social responsibility program.
For example, it had contributed over $2 million humanitarian aid for the affectees of October 8, 2005 earthquake in Kashmir. About the status of Pakistan as a market as compared to its regional competitors like India, Nichol said the two South Asian countries had a "huge potential" because of their huge populations. Meanwhile, the PCIL handed over Rs 10 million donation to ICAP at a ceremony held at a local hotel on Monday afternoon.