The franchise fee structure for local investors to setup and operate foreign food outlets has been revised by the State Bank of Pakistan to promote ease of doing business as per market dynamics. The rules for global food chains entry in Pakistan has been eased.
Global food chains will now be able to enter Pakistan more easily than before.
Local outlets owner will be allowed to remit an amount of up to $250,000 as an initial payment to foreign food chain outlets. The previous limit was $100,000 in the country.
In the past few years, many new outlets have been opened in Pakistan by foreign food chains. These food chains helped to employ nearly 1 million workers along with local hotels and restaurants.
Foreign food brands will now be attracted. To set up their operations in Pakistan after the revised regulations from the banking regulator.
The circular issued by the banking regulator also states that a similar revision will be made to the franchise payment structure for units operating in social, agriculture, service sector projects and international food chains.
This is a welcome development for food lovers in Pakistan. More brands will mean more choices and food lovers of Pakistan. They will be able to try different cuisines from all over the world.
This will also benefit the economy of Pakistan. The more foreign businesses come to Pakistan the better.
