Business community sees better times ahead: survey

Number of employees decline in last six months.

ISLAMABAD:

The business community of Pakistan is now more optimistic about a positive business climate in the coming six months, after months of negative perception, according to a survey conducted by the Overseas Investors Chamber of Commerce and Industry (OICCI).

Business confidence is an essential indicator of the positive and negative sentiments prevalent in the market and this business confidence survey is increasingly being used by both developed and developing economies as a tool to gauge the business and investment environment and also the direction that the economy is headed in.

Over 400 business enterprises belonging to manufacturing, services and retail trade participated in the survey. Respondents of the survey were asked to share their views on various aspects of business ranging from business environment in the country, in the city they operated in as well as their respective industry.

The number of employees seemed to have decreased in all target sectors during the past six months, except finance, where employment level has remained constant. Nevertheless, most sectors are positive that employment will increase in the next six months.

The survey further revealed that the transport, communications and retail sectors, however, did not see employment increasing in the coming six months.

Meanwhile, cement manufacturers and the financial sector have shown an inclination for capital investment during the next six months. Real estate was found to be the most pessimistic sector. The textile sector was found to be more optimistic in Lahore than Karachi and Faisalabad, for both the past and upcoming six months, the survey added.

Published in The Express Tribune, April 14^th,  2011.