Positive Signs of Economic Recovery in Pakistan: OICCI Survey
The latest survey conducted by the Overseas Investors Chamber of Commerce and Industry (OICCI) reveals a 4% improvement in business confidence in Pakistan, although it still remains in the negative territory. The Business Confidence Index (BCI) rose to negative 14% in March-April 2024 from negative 18% in the previous survey.
Key concerns highlighted by the respondents include the anticipation of rising inflation, high taxation, and inconsistent government policies posing threats to business growth. The survey included feedback from major GDP stakeholders, with participants from manufacturing, services, and retail/wholesale trade sectors in the country.
The survey also indicated that global business trends and future expectations are impacting foreign investors’ confidence. Despite challenges such as political instability, fuel prices, high inflation, and currency devaluation, OICCI members continue to maintain higher confidence levels compared to non-members.
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