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Junaid Jamshed starts new business and it has nothing to do with kurtas

09:37 PM | 1 Aug, 2016
Junaid Jamshed starts new business and it has nothing to do with kurtas
Popular for his clothing brand J. Junaid Jamshed, a nationally renowned religious figure, unveiled a new product under his brand Jazaa Foods called Jazaa Rice, a branded rice product with 5 different variants.

According to reports, Jaaza has been introduced in Pakistan as well as the international market considering health precautions and quality standards of the product.

https://twitter.com/JunaidJamshedPK/status/713756812198223878

According to Ali Jabbar, CEO, Jazaa Foods, “as a staple crop, rice has traditionally been dominated by wholesale suppliers, where the business model relies on low-cost milling and production – and the hope of a steady monsoon season.”

Unbranded khulla chawal accounts for almost 96% of the total industry output. There are only a handful of branded players and these include Matco’s Falak, Engro Eximp’s Rymah and Guard Basmati.

The focus of these brands has always been on export markets, because of higher profit margins. Jabbar says, “there was no brand catering to the growing domestic demand for quality, branded rice and we wanted to take advantage of this gap.”

Given that rice has the third largest crop production output in Pakistan (Source: Pakistan Bureau of Statistics, 2015), supply was not a problem and according to Jamshed, Director, Jazaa Foods, the “real challenge was to select rice variants of the highest quality, add value through standardized milling, and bring Jazaa rice to market as an affordable product of the highest quality.”

The name of the company as well as the brand originated from this extensive focus on delivering value-added products. Jazaa translates to ‘reward’ or a ‘fulfilling return’, which is appropriate, as Jamshed’s vision for Jazaa Foods is to establish Pakistan’s first FMCG initiative producing branded consumption commodities of the highest quality.

Junaid Jamshed said: "Despite the stringent quality control standards the product was subjected to, I wanted to ensure that Jazaa rice remains affordable for every Pakistani household.”


“I wanted to replicate Tilda’s success in Pakistan, which is why despite the stringent quality control standards the product was subjected to, I wanted to ensure that Jazaa rice would remain affordable for every Pakistani household.”

Implementing this vision meant that the pricing strategy had to be carefully devised so that the brand would be affordable across most socio-economic groups. To ensure this, Jazaa rice was launched in five variants, each of which has two SKUs: Jazaa Elite Steam Rice (Rs 199/one kg; Rs 985/five kg), Jazaa Premium Basmati (Rs 170/one kg; Rs 840/five kg), Sela Gold Rice (Rs 160/one kg; Rs 790/five kg), Basmati Rice (Rs 140/one kg; Rs 690/five kg) and Economy Rice (Rs 110/one kg; Rs 540/5 kg). To put it into context, a one-kilogram pack of unbranded rice sells for between Rs 90 and 100, while a similar quantity of branded rice is priced at between Rs 120 and 1

 

Hamza Rao is a member of the staff at Daily Pakistan. He can be reached at raohamzafree@gmail.com. He tweets at @HamzaRaoxxx

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Currency Rates in Pakistan Today - Pakistani rupee to US Dollar, Euro, Pound, Dirham, and Riyal - 23 April 2024

Pakistani currency remains unchanged against US Dollar and other currencies on April 22, 2024 Monday in open market.

USD to PKR rate today

US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro stands at 293 for buying and 296 for selling while British Pound hovers at 342.25 for buying, and 345.65 for selling.

UAE Dirham AED was at 75.20 and Saudi Riyal's new rate was at 73.30. 

Today’s currency exchange rates in Pakistan - 23 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 293 296
UK Pound Sterling GBP 342.5 346
U.A.E Dirham AED 75.2 75.9
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.8
Bahrain Dinar BHD 740.55 748.55
Canadian Dollar CAD 201 203
China Yuan CNY 38.47 38.87
Danish Krone DKK 39.78 40.18
Hong Kong Dollar HKD 35.53 35.88
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 903.11 912.11
Malaysian Ringgit MYR 58.08 58.68
New Zealand Dollar NZD 164.22 166.22
Norwegians Krone NOK 25.61 25.91
Omani Riyal OMR 723.2 731.2
Qatari Riyal QAR 76.45 77.15
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.31 25.61
Swiss Franc CHF 305.47 307.97
Thai Bhat THB 7.56 7.71

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