World Bank Chief Economist of South Asia Region Franziska Ohnsorge along with Senior Economist Moritz Meyer visited the OICCI to meet the OICCI leadership.  M Abdul Aleem, CE/Secretary General OICCI, Kashif Shafi, Executive Director OICCI, Aman Ghanchi, Member OICCI Regulatory Subcommittee and Executive Director Legal & Company Secretary at Unilever Pakistan, and Ziad Chowdhrey, Country CFO and Director Novartis welcomed the delegation.

Abdul Aleem shared the brief introduction of the oldest and largest chamber, in terms of economic contributions, of the country with the guests and shared that policy consistency, devaluation, over regulations and high cost of doing business are some of the key pain points of the existing foreign investors in Pakistan. Despite these issues, OICCI members have reinvested more than the net-FDI flew into the Pakistan during the last decade. Strategic location, large middle class, and low cost of manufacturing and services make Pakistan an attractive destination for foreign investors especially in IT and Digital, Manufacturing for exports, Agriculture and Corporate Farming, and Consumer Goods sectors.

Franziska Ohnsorge and Moritz Meyer in their discussion shed light on the policy challenges, growth potential of Pakistan’s private sector, primarily focusing on firms’ adoption to energy efficient technologies which can lower the cost of production. Broadening the tax base and efficient public investment that support private investment are essential for the economic growth of the country. The Chamber apprised the World Bank delegation on the proposals put forth by the OICCI on crucial economic issues, such as, developing efficient energy markets, broadening of the tax base and attracting the FDI.

Closing the session, M Abdul Aleem, thanked the delegation for their visit and the insightful discussion.