Aurangzeb assures multinationals of reforms

Investors flag MNC exits as FinMin urges exploration of high-potential sectors


Our Correspondent July 15, 2025 1 min read
The OICCI acknowledged the government’s efforts to stabilise the economy and emphasised the importance of institutional strengthening. photo: file

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KARACHI:

The Overseas Investors Chamber of Commerce and Industry (OICCI) hosted a high-level dialogue with Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue, engaging senior leaders of major multinational companies operating in Pakistan.

During the session, Aurangzeb highlighted encouraging signs of macroeconomic recovery and growing business confidence, as reflected in the latest OICCI Business Confidence Survey. He emphasised that while the outlook is improving, Pakistan must stay the course on key structural reforms to ensure long-term economic stability.

"We are witnessing early signs of macroeconomic recovery, but to break free from the recurring cycles of instability, Pakistan must take bold and sometimes difficult decisions," stressed the finance minister. "The government is fully committed to supporting the business community by ensuring a transparent, predictable, and investment-friendly environment."

With rising investor confidence, as indicated by the OICCI survey, Aurangzeb encouraged multinational companies to explore high-potential sectors such as mining and minerals, agriculture, information technology, and infrastructure, among others.

OICCI President Yousaf Hussain acknowledged the government's efforts to stabilise the economy and emphasised the importance of institutional strengthening. "We welcome the improving macroeconomic indicators and renewed signs of stability," he said. "To convert this into sustained growth, we must strengthen our institutions, invest in professional capacity, and ensure consistent policymaking." OICCI Secretary General Abdul Aleem stressed the need to raise foreign direct investment, which remains below one percent of GDP. "We are encouraged by the government's focus on simplifying the regulatory environment," he said. "However, the recent exit of some major multinationals also highlights the need to reduce over-regulation and improve the overall investment climate for both existing businesses and potential new entrants."

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