PESHAWAR: The FF Steel has become the first company to launch a franchise network in the country.

Branches for the franchise will initially be set up in Lahore, Jehlum, Nowshera, Tarnol and Faisalabad.

According to a statement issued here on Monday, the decision for the purpose was made after observing the success made by other sectors of the industry using the same model.

“The franchise network will further promote the ease of doing business, enhance market coverage and quality of service to the end consumers,” said a spokesman for the company.

He said the launch of the franchise network would revolutionise the steel industry in the country for being more competitive and organised to prevent tax evasion and directly contribute to the country’s economic growth.

The initiative came after the company decided to go for an IPO by 2021 and subsequently putting up the third plant in Karachi, which will make it the largest steel manufacturer in the country in terms of capacity and the most geographically diverse industry having three plants in Lahore, Karachi and Peshawar.

“The franchise model applied at various national and multinational setups including telecom sector, restaurant chains, textile sector and footwear industry specifically address the underlying issues of retail such as quantity scams, infringement in quality and price parity across the retailer and dealer outlets,” the spokesman said.

Published in Dawn, July 6th, 2021