LAHORE – Mike Spanos, PepsiCo chief executive officer for Asia, Middle Eastand North Africa (AMENA), met Prime Minister Imran Khan in Islamabad today.Mr. Spanos led a delegation of senior executives, which included AamerSheikh, chief financial officer, PepsiCo AMENA and Furqan Ahmed Syed, vicepresident and general manager, PepsiCo Pakistan.
Demonstrating PepsiCo’s ongoing commitment to Pakistan, Mr. Spanosdiscussed plans for the PepsiCo system to invest US$1 billion over the nextfive years.The Prime Minister welcomed PepsiCo’s continued investment, andMr. Spanos extended the company’s full support to the government on itssocio-economic and reform agenda.
The PepsiCo delegation noted the company’s appreciation for thegovernment’s focused efforts towards providing a positive business climatefor all companies operating in Pakistan.
PepsiCo has been part of the business community in Pakistan for more thanfifty years. The PepsiCo system (including company-owned snacks businessand franchised bottling partners and distributors) brings more than 60,000direct and indirect employment opportunities to the citizens of Pakistan.
Together, the system has invested more than US$800 million in the lastfive years.As one of the nation’s leading food and beverage companies, thecompany works with 160 Pakistani growers to purchase only locally-grownpotatoes and corn for its products such as Lay’s and Kurkure. This supportsan estimated 4,000 jobs while providing critical support for ruraleconomies and empowering farmers with critical training on sustainablefarming practices.
Mr. Spanos extended an invitation to Prime Minister Imran Khan toinaugurate PepsiCo’s new snacks manufacturing facility in Multan early nextyear.The state-of-the-art facility represents an investment of US$66million and is expected to create more than 1,500 direct and indirectemployment opportunities for Pakistani citizens.
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Mr. Spanos discussed the company’s support for key pillars of PrimeMinister Khan’s 100 Day Plan, noting the importance of sustainabledevelopment. The two leaders discussed the upcoming launch of two newprograms to be funded by a US$1 million grant from the PepsiCo Foundation –the philanthropic arm of PepsiCo globally.
Given Pakistan’s need for clean and safe water for its citizens, PepsiCoFoundation’s grant will make safe drinking water accessible to thousands ofpeople through the rehabilitation and installation of reverse osmosisplants. This builds on the company’s strong record of water conservationin its locally-grown potato crops and in its snacks and beverage operationsnationwide.
The PepsiCo Foundation and PepsiCo Pakistan also recognize the need tosupport the country’s burgeoning young population. Mr. Spanos shared withthe Prime Minister the company’s plan to launch a youth skills developmentand leadership program that will equip the next generation to beworkforce-ready and to attain meaningful employment.
“Pakistan is an important market for PepsiCo AMENA. It is a country with ayoung and growing population, and the people of Pakistan are its greatestasset. We are proud of our 50 years of history in the country. We havegrown by taking a long-term view, making investments that respond tochanging societal needs. We strive to bea development partner withPakistan. We thank Prime Minister Khan for his leadership, and hope thatour PepsiCo Foundation support can make a real difference in the lives ofmany citizens,” said Mr. Spanos.
