Unilever Pakistan has joined forces with Brand Protection System (BPS) to hold a conference in Pakistan, aimed at highlighting the economic impact of counterfeit goods in the country. The event gathered industry leaders and experts to discuss current laws, regulations, and practices in intellectual property rights (IPR), as well as to explore possible solutions to tackle this critical issue.
In Pakistan, the FMCG sector faces a particularly high percentage of counterfeit items being sold in the market, estimated to account for 80% of cases. The proliferation of fake products has become a growing concern, with brands experiencing 10 times the number of counterfeit cases compared to other industries in 2022. This trend has had a significant impact on the country’s economy, prompting businesses to take action.
Amir Paracha, Chairman & CEO of Unilever Pakistan, emphasized the company’s responsibility to protect consumers and the integrity of its brands. Muhammad Kashif Aslam, Managing Director of BPS, added that the growth of the counterfeit market in Pakistan poses a severe threat to the country’s economy, and emphasized the need for a comprehensive approach to address this issue.
The conference provided a platform for stakeholders to share knowledge and experiences and develop a comprehensive strategy to address the problem of counterfeit products. The collaboration between BPS and Unilever Pakistan represents a promising step towards safeguarding the integrity of Pakistan’s economy and protecting consumers from fake products. The event represents an important milestone in the collective effort to promote fair competition in the FMCG sector and beyond.
Read more: https://www.skipper.pk/elon-musks-starlink-denied-permission-to-operate-in-pakistan-by-pta/
