KARACHI: Carrefour, owned and operated by the UAE-based Majid Al Futtaim in Pakistan, has added Rs1 billion ($5.6 million) to its current investment of Rs9.5 billion ($53.7 million) in the country with the inauguration of a new hypermarket in Gujranwala on Monday.
Majid Al Futtaim is one of the leading drivers of economic growth and impact in the Middle East and North Africa. It is also recognized as a leading foreign direct investor.
With the opening of its 10th store in Pakistan, Carrefour “has expressed its great confidence in the country’s retail sector and underlined its desire to support the growth and prosperity of the communities it is a part of,” a statement from the company said.
Federal Minister for National Food Security & Research Syed Fakhar Imam, second from right, visits the newly inaugurated hypermarket, Carrefour, in Gujranwala, Pakistan, on January 10, 2022. (Carrefour)
Through its offering of over 25,000 products in consumer goods categories, fresh foods, electronics, home accessories and others, Carrefour Pakistan said it aimed to bring convenience to the daily lives of shoppers and provide economic support to 170 households in the city through job creation and local sourcing of products.
Federal minister for national food security Syed Fakhar Imam, who attended the launch of the market, spoke about the important role of the retail sector in the local sourcing of fresh produce and appreciated Carrefour’s role in creating a direct connection between supermarkets and farms.
“We stand by our commitment of providing support to the local economy through our expansion plans and the opening of this hypermarket in Gujranwala is a reflection of this commitment in action,” Umer Lodhi, Carrefour Pakistan country manager, said. “It is also a moment of great pride for us as we play our part in the economic revival of the country alongside the government of Pakistan through the achievement of shared objectives, including sustainable community development.”
