Yousaf Hussain, President and CEO of Faysal Bank Ltd., has been elected as the new president of the Overseas Investors Chamber of Commerce and Industry (OICCI) for the 2024-2026 term. The announcement was made during the Chamber’s Extraordinary General Meeting on Monday.
Joining him in leadership roles, Jason Avancena, Managing Director and CEO of Nestle Pakistan Ltd., was elected senior vice president, and Syed Ali Akbar, Managing Director and CEO of Pakistan Tobacco Company (Pvt) Ltd., was elected vice president.
The newly formed Managing Committee, comprising top business leaders from sectors including banking, telecommunications, and pharmaceuticals, is expected to guide OICCI's future strategy. Other committee members include Aamir Hafeez Ibrahim of Pakistan Mobile Communications Ltd. (Jazz) and Hafsa Shamsie of Roche Pakistan Ltd.
During his address, Yousaf Hussain acknowledged the challenging economic climate but remained optimistic about the potential for reform and growth. "Pakistan today stands at a critical crossroads. While inflation is easing and GDP is showing signs of recovery, the country still faces structural challenges. However, these challenges offer opportunities for necessary reforms, driving innovation, and creating a sustainable business environment," he said.
Outgoing president Rehan Shaikh, who will remain as an ex-officio member of the Managing Committee, praised the Chamber's efforts to attract foreign investment during his term. "In 2023-2024, OICCI actively engaged with foreign delegations, promoting Pakistan as an attractive destination for FDI," Shaikh remarked.
With over 25 years of experience, Yousaf Hussain has held several senior leadership roles in multinational organisations. His deep involvement in Pakistan's banking and financial sectors, particularly through collaborations with the State Bank of Pakistan, positions him as a key figure in shaping the country’s economic reform and growth policies.
The OICCI, representing over 200 foreign investors, continues to play a crucial role in promoting business-friendly policies and encouraging foreign investment in Pakistan.
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