PAKISTAN

DEVELOPMENT
FORUM

OVERSEAS INVESTORS CHAMBER OF

COMMERCE & INDUSTRY
- OICC&I - By Kamran Y. Mirza
President OICC&I
 OVERSEAS INVESTORS CHAMBER OF
COMMERCE & INDUSTRY
!FOUNDED IN 1860
!CURRENT MEMBERS - 172
" INDUSTRIAL 101
" TRADING 24
" BANKING &
FINANCIAL SERVICES 32
" INSURANCE, SHIPPING
& AIRLINES 15

•PUBLIC LISTED COMPANIES - 54

 MEMBERS COUNTRY-WISE

11.0%
BRITISH 44 4.7% 25.6%

AMERICAN 42 7.6%
CONTINENTAL
EUROPEAN 46
JAPANESE 13 26.7% 24.4%
MIDDLE EAST 8
OTHERS 19
 KEY STATISTICS
• MEMBERS EQUITY Rs. 131 Billion
• SALES
" 9% of Country’s GDP
" 15% of Mfg. Sector GDP
• TAX REVENUE
" 20% of All GOP Revenues
• EMPLOYMENT
" 50,000 People
 CURRENT SCENARIO

MACRO ECONOMIC STABILITY

AS A RESULT OF
PREVIOUS GOVERNMENT’S
ACHIEVEMENTS
 ECONOMIC ACHIEVEMENTS OF
PREVIOUS GOVERNMENT
• Lowering of Inflation
• Build up Foreign Exchange
Reserves
• Strengthening Rupee
• Declining Interest Rates
• Lowering National Debt
• Reduced Budget Deficit.
Contd.
 ECONOMIC ACHIEVEMENTS OF
PREVIOUS GOVERNMENT
Contd.

• Rationalization of Import Duties

• Expansion of Sales Tax base
• Improvement in Governance
• Code of Corporate Governance
• Unprecedented Access To Policy
Makers.
CURRENT ENVIRONMENT
 FOCAL POINTS
• Continuity of Previous Government’s economic
reforms and policies.
• Documentation of Economy
• Taxation
• CBR reforms
• Widening of Tax net – Agriculture
• Transparent taxation policies
• Reduce discretionary powers of officials
• Further rationalization of Tariffs – reduce
smuggling.
Contd.
 FOCAL POINTS
Contd.

•Privatization & De-regulation

•Avoid populist policies eg. Fertilizer,
Automobile & Pharmaceuticals
•Improve Infrastructure
•Increase investment in social sector
– Health, Education & Birth Rate
•Rationalize overprotective labour laws.

Contd.
 FOCAL POINTS
Contd.

• Improve Legal System

• Strict enforcement of IPR
• Removal of bias against MNCs – level
playing fields
• Enforcement of Environmental laws
• Improve Law and Order / Security.
 FUTURE OUTLOOK

• Improved Geo Political

environment
• Parliamentary Government restored
• Improved relations with India
• Stable Afghanistan
• Reconstruction of Iraq.

Contd.
 FUTURE OUTLOOK
Contd.

• With consolidation of previous

Government’s achievements
• New Government’s focus on major
issues
• Break of Drought Cycle
• Robust corporate sector performance
PAKISTAN ON THE MOVE