Islamabad (TDI): Executive Vice President of Metro AG Germany Atila Yenisen told Finance Minister that his group imported over €10 million worth of Pakistani home textiles and other products for their overseas customers on annual basis.
He said this in a meeting with Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, to whom he called on, along with a delegation of the METRO AG Germany, here at the Finance Division on Wednesday.
He also shared with the Minister a brief profile of their business and investment in Pakistan.
He said that besides contribution to Pakistani Textiles Exports, the METRO AG Germany is now operating 10 stores in five Pakistani cities, employing over 2000 local staff and benefiting nearly 10,000 associated clients.
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Beyond Pakistani Textiles Exports
He said his Group had expanded its business in Pakistan over the years and had also contributed to documentation of economy.
Beside surge in Pakitani Textiles Exports, the delegation also took keen interest in economic reforms in Pakistan.
During the meeting, Senator Muhammad Aurangzeb welcomed the delegation and briefed them on the ongoing macroeconomic reforms and their positive impact on the stability and future economic growth of the economy.
The Minister also highlighted the significant drop in inflation and the declining interest rate leading to a positive surge in the overall business and economic activity.
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He said the country’s foreign exchange reserves had also risen from two weeks of import cover to two and a half month of import cover, paving the way for a stable exchange rate and allowing for repatriation of profits and dividends to foreign investors.
The delegation was led by Atila Yenisen and accompanied by Alfred Graannas, Ambassador of the Federal Republic of Germany to Pakistan. Senior officers of the Finance Division and FBR also attended the meeting.
