ISLAMABAD-The Abroad Traders Chamber of Commerce and Trade (OICCI) has contributed over Rs1.2 trillion in 2019, in the direction of the tax income of Pakistan, which is roughly one third of the full tax assortment within the nation. The OICCI, the chamber of main 200 international buyers in Pakistan belonging to 35 international locations, has launched the consolidated monetary contribution of its members for the yr 2019 primarily based on suggestions from 150 members, 50 being subsidiaries of Fortune 500 corporations and 57 listed on the Pakistan Inventory Alternate. The international buyers have contributed considerably in the direction of the GDP of the nation and have maintained the OICCI place as the biggest chamber of commerce by way of financial contribution within the nation. This complete survey is being carried out yearly since 2009. Elaborating on the important thing options of the OICCI 2019 Annual Financial Contribution survey, OICCI President Haroon Rashid highlighted that “we are very proud that in the past twelve months, OICCI members contributed over Rs1.2 trillion, or 5 billion each working day, towards the tax revenue of Pakistan, which is approximately one third of the total tax collection in the country. During 2019 two OICCI members paid taxes in excess of Rs100 billion each “. The five sectors contributing over 80 per cent of the tax revenue from OICCI members were Energy, Tobacco, FMCG & Food, Telecommunication and Banking. “With an asset base of $120 Billion”,OICCI Secretary Basic M Abdul Aleem added” the OICCI members maintained their place because the main international buyers in Pakistan throughout 2019 with new investments of over $three Billion primarily within the Vitality, Telecom and Chemical substances sectors”. Commenting on the numerous contribution of international buyers within the financial system of Pakistan, OICCI President Haroon Rashid mentioned “OICCI members believe in Pakistan and have always been leading economic contributors to the country, however we need to take note of emerging challenges that are affecting the ability of OICCI members to keep on attracting additional investment, for example, currency devaluation”. Haroon additionally talked about that “there is also growing concern among our members on the uncertain regulatory and operating environment which, if not addressed, could threaten the attractiveness of Pakistan as a destination for FDI”.
