Pakistan a resilient country: OICCI chief

Bajwa says progress made but ‘real potential’ yet to be achieved

KARACHI: Pakistan is a resilient nation and despite numerous challenges, the country’s economy has shown consistent growth, although it is still below its real potential, said Overseas Investors Chambers of Commerce and Industry (OICCI) President Atif Bajwa.

“Governments around the world are competing for business investment, which tends to flow to places where there is greater certainty for trade with a good political climate and limited regulatory barriers,” he said, adding that with a population of 200 million along with a critically important geographical location, Pakistan’s business potential is phenomenal for foreign and local investors.



“Our country is an attractive investment destination, but while inviting new investors, we must not forget hearing the voice of those who have been consistently investing in the country over decades,” he added.

OICCI is an association that represents 195 leading foreign investors from 35 countries with representation in 14 business sectors.

The latest OICCI Business Confidence Index (BCI) Survey conducted across the country in March this year showed results which were beyond expectations - rising from positive 1% in October 2014 to the best ever result of positive 18%.



He said that decisions taken by the present government have contributed towards building stronger confidence that include perceived reduction in the cost of doing business, consequent to the reduction in fuel prices, which also contributed to lowering of inflation and bank borrowing rates.

Emergence of a new broader political consensus among key political stakeholders, expectations of large investments related to the China Pakistan Economic Corridor projects, good operational results for the year 2014, new energy projects in the pipeline and improvement in the overall law and order conditions in the country are amongst the major impacts.

Published in The Express Tribune, November 6^th, 2015.

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