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ISLAMABAD, Dec 12 (APP):Advisor to Finance Minister on Economic and Financial Reforms, Khurram Schehzad said here on Thursday that OICCI’s Business Confidence Survey reaffirmed Pakistan as a promising and reliable destination for investment.
“The latest OICCI’s Business Confidence Survey results send a strong signal to potential investors globally, reaffirmed by the renewed optimism by existing foreign investors, reaffirming Pakistan as a promising and reliable destination for investment,” he said while commenting on the survey.
According to the report, Business Confidence was at 2-Year High as foreign investor confidence improved to +6% (from -4%), highest since November 2022 while business situation improved to 20% from 8% earlier, showing improving cost of doing business.
Likewise, the report says, investors anticipate 30% sales growth with industry recovery, demand & production activities adding that 39% of investors plan business expansion, up from 14%, signaling improved growth outlook.
It says, New Order Index up significantly improved to 20% from 4%, reflecting renewed sense of optimism among businesses while employment prospects improved, with manufacturing sector leading with a rise to 6% from 2%, followed by services sector’s robust growth, rising from 7% to 30%.
Optimism about Pakistan’s global business situation jumped to +31% (from -10%), reflecting improved foreign perception while 43% of respondent expressed optimism for next 6 months, up from 34%.
According to report, there has been improvement all across the country as metro cities (Karachi, Lahore, Islamabad, Faisalabad) improved by 9%, as well as non-metro cities by 13%.
Sales Volumes already started showing results in November 2024: Cement (+6%) Fertilizer (+7%), Auto (+58%), and Petroleum (+15%).
It is pertinent to mention here that OICCI comprises over 200 members, from over 30 countries, representing 14 sectors, invested US$ 22bn in Pakistan in the last 10 years, contributing 1/3rd to total taxes, 25% companies listed at PSX, and many are part of Fortune 500.