FCEPL, Citi Pakistan partner to strengthen supplier financing

KARACHI: FrieslandCampina Engro Pakistan Limited (FCEPL) has joined forces with Citi Pakistan through the Citi® Supplier Finance digital platform, aimed at bolstering their supplier relationships and bolstering supply chain resilience. The collaboration seeks to strengthen FCEPL's ties with its suppliers by enabling them to receive early payments, while simultaneously maintaining the agreed-upon payment terms.

This strategic move bolsters FCEPL's bilateral working capital strategy, ensuring a seamless cash flow throughout the transition period.

Kashan Hasan, the Managing Director of FrieslandCampina Engro Pakistan Limited, highlighted that financial imbalances within the supplier landscape often prevent capable candidates from seizing opportunities for transactions and contracts. He emphasized that this partnership will pave the way for numerous small and emerging suppliers by providing them with the same financial resources as the broader market, allowing them to reach their full potential.

In his statement, Hasan underscored that nurturing Pakistan's nourishment purpose cannot be accomplished without the active involvement of its stakeholders. This partnership represents a significant stride towards ensuring that every stakeholder within the value chain is equipped with the necessary resources to contribute to the company's mission.

Habib Yousuf, the Citi Country Officer & Banking Head for Citi Pakistan, highlighted that the collaboration with FCEPL exemplifies how Citi's global expertise can be leveraged to address local business requirements. By extending financing options to suppliers, Citi aims to facilitate access to working capital on more favorable terms, empowering businesses to operate and grow with greater flexibility.

Beyond benefiting suppliers, this partnership offers FCEPL the opportunity to refine its treasury and working capital management capabilities as the program continues to evolve.