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Lack of value addition and branding shift benefits to others: Lahore Chamber of Commerce and Industry

Lahore, July 24, 2017 (PPI-OT): Lack of Branding and value addition is shifting all benefits to the other countries who are earning huge benefits from the global trade while we are struggling to achieve minor export targets. These views were expressed by the LCCI President Abdul Basit, Senior Vice President Amjad Ali Jawa and Vice President Muhammad Nasir Hameed Khan while speaking at an awareness session here at the Lahore Chamber of Commerce and Industry.

The LCCI office-bearers said that lack of interest and awareness regarding branding and value additions are causing huge loss to the national economy as we are getting far less benefits from potential of the country and quality of products. They said that many countries are importing Pakistani unbranded products and selling to the world with their own brands. Likewise, they said, most of natural produce like salt, precious and semi precious stones are being exported in raw shape despite the fact that value addition can add hundreds of percents in its price.

They said that in today’s era, brand is far more than just a logo. Brand represents reputation and is a tool that attracts someone towards the product. They said that in the developed world, people love to use branded products because companies with brands don’t just sell a product but sell experiences and quality.

The LCCI office-bearers said that awareness is also the greatest value of a brand and major part of marketing. How buyers would be pulled towards a product about which they have never heard. They said that building awareness is one of the greatest challenges for businesses that can be tackled through public-private partnership.

They said that private sector should plan to promote branding culture in Pakistan to wear off the intensity of economic meltdown being observed by the leading economies of the world. They said that nevertheless Pakistan has all resources in abundance and quality-wise its goods are ‘best of the best’ in the entire world but it has so far failed to get its share in the world market only because of poor branding.

He said that branding is the tool that not only gives boost to its exports but also adds value to the products. They said that the Lahore Chamber Commerce and Industry would continue its efforts to update its members on latest techniques of marketing through various activities so that they could enhance their productivity and profitability and contribute towards the economic growth of Pakistan.

For more information, contact:
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854
Website: www.lcci.org.pk

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