Ali Khizar Aslam, a prominent economist and Head of Research at Business Recorder, visited OICCI for an insightful session on Pakistan's economic outlook.

The session underscored the need for cautious monetary policies, energy sector reform, and private sector involvement to drive sustainable economic growth in Pakistan. The discussion covered critical topics and challenges.

➡𝗜𝗻𝗳𝗹𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗚𝗿𝗼𝘄𝘁𝗵 𝗣𝗿𝗼𝗷𝗲𝗰𝘁𝗶𝗼𝗻𝘀: Inflation is expected to remain in single digits. The State Bank targets a 2.5-3.5% growth rate, while the government aims for 3%. Fiscal and energy reforms are essential for stabilization.

➡𝗘𝗻𝗲𝗿𝗴𝘆 𝗦𝗲𝗰𝘁𝗼𝗿 𝗥𝗲𝗳𝗼𝗿𝗺𝘀: The government is renegotiating domestically owned IPP contracts to reduce debt servicing costs. Broader reforms, including privatizing DISCOs, are necessary to lower energy prices.

➡𝗙𝗶𝘀𝗰𝗮𝗹 𝗮𝗻𝗱 𝗦𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗮𝗹 𝗥𝗲𝗳𝗼𝗿𝗺𝘀: Broader tax net and expenditure rationalization are needed for fiscal sustainability. A balanced taxation system, with lower corporate and salary taxes, was emphasized to boost private sector investment.

➡𝗣𝗿𝗶𝘃𝗮𝘁𝗲 𝗦𝗲𝗰𝘁𝗼𝗿 𝗥𝗼𝗹𝗲: The private sector's leadership in attracting foreign investment and raising foreign exchange is critical. Improved governance and policy implementation are also essential to retaining investor confidence.

OICCI regularly hosts economic sessions for its members to help them understand the evolving economic conditions in the country and their impact on business, providing valuable insights to navigate the challenges ahead.