Business confidence in Pakistan improved during last six years: Survey

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ISLAMABAD, May 23 (APP): The economic outlook in Pakistan is at six-year high with significant improvement in the confidence of foreign investors due to political stability and improved security situation in the country, a survey revealed.

The survey titled, Business Confidence Index is conducted
twice a year to assess the country’s economic outlook and sponsored by the Overseas Investors Chamber of Commerce and Industry (OICCI).

The OICCI is a representative body of 196 multinational companies operating in Pakistan since 2010.

The survey revealed that the business confidence in Pakistan
has improved to a positive 36% during last six months from October 2015 to March 2016. It shows a surge by 14 percentage points compared to 22% during previous six months.

The survey findings also show a record increase of 55 percent in the confidence level of foreign companies operating in the country, what it said was record high during last six years.

The positive improvements in country’s economic outlook has been achieved consequent to relative political stability, improving security situation, low inflation due to record low international oil prices and 42-year low interest rates. These are some of the factors that have created an atmosphere in the country in which investors are looking for investment opportunities, the survey said.

It says that the business confidence has changed significantly
during last two years. Economic outlook has gradually improved by 36 percent during last three biannual surveys that had remained stagnant for one and half years.

According to the survey, when the PML-N government came into power in 2013, the business community was much enthusiastic and confident but it dropped as the opposition parties went for a sit-in lasting four months.