Mcdonald’s, a global chain of fast food, has engaged a local company Al-Shaheer Corporation Ltd (ASC) for purchasing various beef products.
According to a stock filing to the Pakistan Stock Exchange (PSX), Al-Shaheer Corporation Ltd has signed a Business Relationship Agreement with McDonald’s Pakistan for the supply of beef products through their Lahore Frozen Food Facility.
The multinational fast-food chain has turned to locally manufactured beef products after facing a shortage of its own supply due to Pakistan’s recent import ban on a vast category of items which also included food products.
“It is our great pleasure to announce that ASC is the first ever Pakistani company to enter into a Business Relationship Agreement with McDonald’s Pakistan, for the supply of beef products,” the stock filing said.
In the present situation of high inflation, it is feasible for foreign food outlets to purchase edible raw materials from local companies ensuring high standards of products. This will not reduce their cost of doing business at the local level but will also pass on the impact to the end customers.
Besides, the local engagement between the companies also reduces the burden of the import bill from non-essential and luxury items.
