ISLAMABAD: In the Second week of September 2018, Managing Committee of The Overseas Investors Chamber of Commerce and Industry (OICCI) President, Irfan Wahab Khan held a meeting with Prime Minister’s advisor on Commerce, Textile, Industries and Investment, Abdul Razzak Dawood. Talking to a press conference after the meeting he said “Our principled stance is that there should be a level playing field for all the stakeholders in CPEC and if the government thinks that there are elements of unfairness then it must be reviewed and at the same time FTAs(Free Trade Aggrements) should also be looked at,”
It is pertinent to mention here that earlier this week Razzak Dawood’s statement against CPEC drew fierce criticism from both Chinese and Pakistani sides after which he termed the statement attributed to him as out of context
OICCI members invested $ 2.7 billion in 2017-18 which was 20 percent higher than the previous year and was mainly in the energy, chemicals and telecom sector.
130 out of a total 190 member took part in the survey. It and reflected OICCI members total assets at $90 billion with 2017 revenue of over $36 billion. OICCI members emerged as the largest tax contributors in the country with a total contribution in excess of Rs. 1 trillion
Security Survey conducted by OICCI in June 2018 has reaffirmed the fact that a massive amount of foreign investors and foreign visitors have taken interest in Pakistan owing to the improving security situation in the country. The Visitors include staff from overseas Headquarters of leading MNCs.
OICCI President was hopeful that “the new government will soon take some bold measures to put the economy on solid growth trajectory in line with the great potential of the country. OICCI members have recommended measures to boost business confidence through policy announcements on matters relating to taxation, debt management, reform in FBR and tax regime and measures to boost FDI, as well as improving Ease of Doing Business in Pakistan. Pakistan currently attracts low FDI, which is less than one percent of its GDP against the norm of three percent in the regional countries.”
