Pierlite to set up facility in Pakistan

Karachi: Pierlite, the largest Australian lighting company, is set to invest around $20 million in Pakistan by launching a joint venture company 'Pierlite Pakistan (Pvt) Ltd.' In this connection, Ms Zorica McCarthy, Australian High Commissioner has inaugurated the formal launch of Pierlite Pakistan in a ceremony, held at a local hotel here on Tuesday.

In her keynote address, she said that the investment in Pakistan was one of many global investments by the group to reach their global sales target of one billion dollar by 2015.

'This new joint venture will bring foreign investment in Pakistan by an Australian group giving new products, design technology and livelihood opportunities to local people by setting up manufacturing unit in the country,' she said.

She said that Pierlite group would produce top quality lighting products for domestic market, which would facilitate consumers to resolve their lighting problems. She added that company would also export its products to neighbouring countries like Middle East, India and South Africa.

She hoped that the commencement of mega projects in Pakistan and other neighbouring countries would provide lucrative opportunity to Pierlite to enhance its business in this part of the world.

Speaking on the occasion, Pervez Madraswala, CEO, Pierlite Pakistan said that company was selling its products in Pakistan since 1997 and after getting phenomenal response from the market; company was planning to expand its sales and distribution facilities by investing $20 million to set up local production unit in Pakistan aimed to cater to the domestic lighting need and other parts of the region as well.