OICCI survey: Tarin hails business community for reposing trust

ISLAMABAD: The Federal Minister for Finance and Revenue Shaukat Tarin Monday welcomed the trust and confidence shown by the business community in Pakistan over the economic policies of the present government, said a press release.

The recently conducted Business Confidence Index (BCI) Survey-Wave 20 by OICCI has indicated that the overall BCI has increased by 59 percent and stands at +9 percent (from -50 percent during May 2020) and +34 percent (from -74 percent in May, 2020) for OICCI members; as positive perceptions on several aspects have pushed back some negative macro-economic factors during the last survey.

The main drivers leading towards the dramatic increase in business confidence are trust in current government's policies, better law and order situation and the relaxation in lockdowns. Respondents believe that the next 6 months will be even better than the previous 6 months with higher sales volume, profits and return on investment.

The survey was conducted in nine major cities of the country and was participated by manufacturers (40 percent), service providers (35 percent), and wholesalers/retailers (25 percent). The finance minister stated that the government has instilled a new zeal in the business community through its progressive, consistent and transparent policies.

Federal Budget 2021-22 was welcomed by the business community as pro-people, growth-oriented and business friendly. Thus, with other positive developments taking place on the international front, like the IMF's SDR allocation for member countries including Pakistan, will lead towards an all-inclusive and sustainable economic growth as envisaged by the prime minister.-PR

Copyright Business Recorder, 2021