Pepsi and Coca-Cola pledge to invest $1.4bn in Pakistan

The Government of Pakistan has announced that beverage majors PepsiCo and Coca-Cola will invest $1.4bn in the country in the next five years.

The statement came after executives from the two companies met with Pakistani Prime Minister Imran Khan.

PepsiCo delegation, headed by the company’s Asia, Middle East and North Africa CEO Mike Spanos, pledged to make a further investment of $1.2bn in the next five years.

Coca-Cola, which has already invested more than $500m in the country in the past five years, agreed to invest an additional $200m in two to three years.

Coca-Cola said the investment: “Will create new jobs, support ancillary industries, and help the government earn incremental revenue through taxes as the business grows further.”

Prime Minister Khan said: “The present government is committed to facilitating businesses and investors in every possible manner to take advantage of the existing opportunities in the country, which has a population of over 100 million below the age of 30 years.”

Coca-Cola’s delegation discussed tax issues and the black economy, which are hampering industry’s growth.

The government statement added: “The delegation expressed confidence in current government and hoped that Coca-Cola’s investment will encourage other international companies to invest in Pakistan.

“Pepsi’s delegation highlighted certain issues faced by the industry.

“The delegation expressed full confidence on the investment and business-friendly policies of the present government.”