Growth in food sector largely tremendous

Interview with Mr Rafiq Rangoonwala — a leading businessman

PAGE: Tell me something about yourself and your organization, please:

Rafiq Rangoonwala: I am associated with food business for last 40 years. I started my career with KFC in Houston, worked in Caribbean looking after English speaking islands, later on was transferred to Middle East as Market Director of KFC, MENA Region. Moved to Pakistan at the end of 1999 as CEO of KFC and remain associated till 2014. Also managed brands, like Pizza Hut, Hardees, Burger King, Harry Ramsden, Pizza Express, TGI Fridays, etc.

PAGE: What is the current state of the food sector of Pakistan in terms of profitability and growth?

Rafiq Rangoonwala: Growth potential in food sector across the board is tremendous. With innovation and improvement the companies are experiencing growth across the board. Increased awareness for hygienic, quality food and convenience with population growth is also a key ingredient in further increasing the size and pie of the business. In my opinion, the one who keeps up with consumer demand and understand the changing trends will benefit the most and on the contrary, the complacent ones will fade out and will be replaced with new vibrant and relevant brands.

PAGE: What steps are the fast food chains taking to cope with the unprecedented situation caused by Covid 19?

Rafiq Rangoonwala: The most vulnerable are the one heavily dependent on dine in business like casual and fine dine in restaurants. They are gearing up by offering delivery, expanding into bakery and dessert offerings alongwith main course and making the take away more convenient. With the threat of another lock down it will become more of a priority for these businesses to reduce their dependency on dine in business otherwise they will be wiped out. Some would also cut the size of their lobby to reduce rental and other capital costs to make their businesses more viable.

PAGE: Your views on the employment opportunities in fast food chains at present:

Rafiq Rangoonwala: There will be increasing demand of call center agents and delivery riders with increased delivery business. Over a period of time I believe there will be more openings for food handlers like kitchen staff as well. Waiting staff would lose out.