INTERNATIONAL - Pepsi and Coca Cola are set to invest $1.4 billion in Pakistan in coming years, a statement from Prime Minister Imran Khan’s office said, after executives from the two companies met with Khan.
Pepsi planned to make “ a further investment of $1.2 bln” in next five years, Khan’s office said on Wednesday, after the company’s chief executive for Asia, Middle East and North Africa, Mike Spanos, led a Pepsi delegation that met Khan.
Coca Cola, which has a $500 million business already in Pakistan, also pledged a planned $200m investment in the coming two to three years, Khan’s office added in a separate statement on Tuesday.
Coca Cola did not immediately respond to a request for comment. Pepsi could not be reached for comment.
Khan, who assumed power in August, has inherited a wobbly economy reeling from a ballooning current account deficit, which has prompted the government to seek loans from allies China and Saudi Arabia, as well as enter bailout talks with the International Monetary Fund (IMF).