OICCI had a meeting with high level programming mission of Asian Development Bank (ADB), on May 25, 2022 at the Chamber. ADB team comprised of Mr. Asad Aleem, Deputy Country Director, Mr. Nasruminallah Mian, Senior Programs Officer and Mr. Shaheryar Ali Chaudhary, Sr. Investment Officer, Pakistan Resident Mission. The guests were welcomed by OICCI, CE/General Secretary M. Abdul Aleem, Deutsche Bank AG, Chief Country Officer, Syed Kamran Zaidi and Unilever Pakistan, Limited, Company Secretary, Aman Ghanchi’
While giving a brief introduction of the Chamber, M. Abdul Aleem shared a comprehensive presentation with the guests, covering the OICCI profile and strength, members contribution to the economy and a brief outline of the OICCI research profile. He also highlighted the active role of OICCI in policy reforms and advocacy, by submitting regular inputs on various economic policies, which includes Taxation proposals, recommendations on energy reform and Digital Transformation etc.
Mr Asad appreciated the role of the Chamber in engaging with multiple stakeholders and portraying the potential of Pakistan and advocating to the international community. He further mentioned the details and allocation of ADB’s ‘Indicative Country Pipeline for 2023-2025’, and a resource envelop of over $6 billion over these 3 years. The ADB team also informed that they are including private sector also in their consultative process, which include regular interactions with important chambers and associations such as OICCI.
During the discussion, various areas of mutual interest were identified. The mission discussed about various challenges impacting the economic and business climate of Pakistan, and highlighted multiple issues like poverty, economic instability, uneven cyclical growth and low investment patterns leading to high debt coupled with growing current account deficit, unstructured planning and policies, etc. OICCI team emphasized upon building a transparent framework, need for consistent policies and institutional framework being most crucial in stabilizing the swings Pakistan faces. SG emphasized that there is a dire need for receiving feedback from all stakeholders during the whole phase on investment or funding by the ADB to ensure long-run growth and stability. It was also discussed principled macroeconomic policies could help Pakistan offer sustainable environment for businesses.
Concluding the session, M. Abdul Aleem, thanked the guests for their time and offered full support of the OICCI and its members in providing realistic and factual insights to help ADB to conduct their current and future projects to help Pakistan improve its economic contribution, and suggesting steps necessary to strengthen Pakistan’s economy.