Investment body: American Business Council simplifies goals

Members believe clear policies will renew investor confidence.

KARACHI: The American Business Council of Pakistan (ABC) has urged the government to formulate business-friendly policies, improve the law and order situation and resolve the energy crisis to attract much-needed foreign investment in different business segments of the country.

ABC – the single largest country investor group in Pakistan – reinforced its commitment to Pakistan, while urging the government to resolve the issues which are detrimental to growth, the organisation said in a statement on Thursday after its first CEO roundtable meeting of 2014.

The organisation also reviewed the performance of their companies in calendar year 2013. Despite having faced uncertainty due to poor law and order situation and inconsistent government policies in 2013, 70% of ABC member companies said they are optimistic about the year ahead but planned to hold off investment until there is further clarity with respect to the fiscal, trade and monetary policies.

ABC praised the efforts of government regulators to improve the business environment and provide a level playing field.

However, there is a lot to be done to further strengthen the regulations, especially regarding expanding the tax net, enforcement of Intellectual Property Rights (IPR) as well as the Environment Protection Ordinance. “The government needs to formulate long term, strong, efficient and business friendly policies and share the roadmap of its strategy to overcome the energy crisis and improve law and order conditions,” ABC President Saad Amanullah Khan said.

Published in The Express Tribune, March 7^th, 2014.

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