The sale on installment basis is not a new way of
selling in Pakistan as this mode was started by unorganized sector many
years ago. The ultimate aim of this selling mode was to provide costly
electronics products to the general masses that were not in a position
to purchase the expensive and latest electronic items in cash.
The unorganized sector consisted of various dealers
in their individual capacity financed a common man and earned a profit
of around 50% to 60% on retail price. Due to non-availability of any
organized sector in the ring the common man was forced to avail these
Keeping in view the economic condition of Pakistan,
we realized and approached the government to instruct commercial banks
to come forward, who were restricted by State Bank of Pakistan to
indulge them in consumer durable financing. The government realized and
took the bold step by allowing commercial banks to finance the general
masses for the purchase of consumer durables.
National Bank of Pakistan was the first bank that
took initiative with us for the start of this scheme and first ever
scheme in the name of " GHAR GHAR TELEVISION SCHEME" was
announced in October 2002.
With the start of consumer financing scheme by NBP,
the doors opened for other bank and brands, which also initiated and
came forward with different terms and conditions.
New Allied Electronics Industries (Pvt.) Limited
distributor of LG Electronics for Electronics products is always known
as the most aggressive marketing company, who has always introduced
innovative schemes. The same enthusiasm compelled us to convince other
banks to come forward and different schemes were started with other
1. HABIB BANK
PRIME COMMERCIAL BANK LIMITED
ASKARI COMMERCIAL BANK LIMITED
BANK OF PUNJAB
SAUDI PAK LEASING CO.
PAK LIBYA HOLDING CO.
New Allied Electronics Industries (Pvt.) Ltd is not
only the pioneer in starting consumer financing but also initiated
schemes with many banks on the following salient features.
1. 0% mark -up
0% down - payment
0% processing charges
Free home delivery
With the collaboration of HBL, an ever competitive
scheme on the occasion of 14th August, 2003 in the name of "AZADI
SHOPPING GALA" was started with 0% mark up for 3 years.
These were the aggressive steps, which rated LG as
No. 1 in consumer financing scheme through banks, where LG shared a
market of more than 60% as compared to all other brands.