- More competitive and innovative environment enable food sector thrive in global market
Interview with Mr. Rafiq Rangoonwala — Food Industry expert
PAGE: Tell me something about yourself, please:
Rafiq Rangoonwala: I started my career from Houston, Texas in 1980 with KFC, USA. I am former CEO of Quick Food Industry (Mon Salwa). I am doing freelancing now. I have extensive experience of over 40 years in creating, building and leading key Fast Food Brands in Pakistan and across the globe including, KFC, Burger King, TGIF, Hardees, Pizza Hut, Wendy’s and Harry Ramsden, etc.
Currently, I am on the Advisory Board of Ijara Capital, Advisor to Bahria University Karachi, Member Scientific Panel at Sindh Food Authority and also am the founder member and President of Pakistan Food Association.
I was elected twice as the President of Marketing Association of Pakistan, President of Memon Professional Forum, Vice President Karachi Business Forum and Think Tank. I have also contributed in philanthropy as Founder President Emaan Welfare Society, Chairman Advisory Board of Help International Trust and Trustee Sina Health, Education and Welfare Trust.
PAGE: How would you comment on the value addition in food sector?
Rafiq Rangoonwala: We have a long way to go in terms of value addition. We lack in research and innovation, most are just happy with copying what others are doing with few exception. Overall GoP or businesses spend ignorable amount in this respect which is extremely sad.
PAGE: What is your standpoint on incentives for the food sector in the federal budget for the next fiscal year?
Rafiq Rangoonwala: In my opinion, incentives should be always performance based. Our problem is that there’s hue and cry before budget for survival however once incentives are given everything settles down till it’s time for the next budget and warnings are given and red flags raised that if incentives are not given there will be a catastrophe. Businesses should get incentives based on, for example:
Productivity improvement
New job creation
Increased export
Spending on up gradation, research and development etc.
PAGE: What must be done to escalate food exports from Pakistan?
Rafiq Rangoonwala: We must be cost effective to compete with our competitors like India, Bangladesh, Malaysia etc. It is only possible by bringing the cost of goods sold under control. Ever increasing utility and raw material costs etc make things worse for our exporters.
PAGE: What is the state of investment in the food sector?
Rafiq Rangoonwala: There can be a lot more but ever-increasing red tape, cost of labour, utility and raw materials etc are big hurdles besides extremely high interest rates are the biggest challenges.