ISLAMABAD: Metro Habib Cash and Carry has decided to open 30 new stores during the next three years to reach out one million people in Pakistan, in addition to investing in stock exchange.

Metro Cash and Carry International (MCCI) Chief Jeroen de Groot discussed further investment plans with Chairman of Board of Investment, Mohammad Zubair here on Wednesday, and said that Pakistan is a safe country and foreign investors should not hesitate to invest in this country.

Mr Groot said that MCCI operates more than 700 stores in 29 countries in Europe, Asia and Africa and opened its first wholesale centre in Pakistan in 2007. In Pakistan, it has established collection centres for local farmers providing them the opportunity to sell their produce directly at a fair market price.

Mr Groot said as MCCI promotes the local market, 95 per cent of the goods and items in stores are produced in Pakistan. “We export only 5pc from Germany and other countries and acquire the breakeven in only five years after our operations. In Pakistan, even our performance is better than Metro of India.”

During the meeting, BoI chairman said that the government is pursuing policy initiatives and its top priority was to overcome on energy crises, security issues and attract FDI promotion to put Pakistan on a fast track to attain sustainable economic growth. The government is also focusing on manufacturing, retail businesses and infrastructure development to promote industries.