KARACHI – Pakistan’s enterprise confidence rating has plunged by 21 % in six months, in line with the Abroad Buyers Chamber of Commerce and Trade (OICCI).
The OICCI’s Enterprise Confidence Index Survey (Wave-22) reveals a complete suggestions from frontline enterprise stakeholders in respect of their views on the atmosphere and alternatives impacting their respective enterprise operations.
The suggestions covers enterprise atmosphere at regional, nationwide, sectorial and personal enterprise entity ranges within the final six months in addition to the anticipated enterprise and funding atmosphere within the subsequent six months.
Performed throughout Pakistan in September and October this 12 months, the Wave-22 survey stated the nation’s general enterprise confidence rating (BCS) dropped to -Four % from the earlier rating of 17 % recorded in Wave-21 held in March-April.
“The substantial decline in the overall Business Confidence to negative 4 percent is regrettable but not surprising considering the highly challenging political and economic situation during the past six months,” OICCI President Ghias Khan stated within the survey report.
“Besides very high inflation and increased fuel prices, the significant currency devaluation also dampened the economic activity. The record level of rains during August leading to severe flooding in Sindh and other parts of the country further restricted the business activities.”
The Abroad Buyers Chamber of Commerce & Trade (OICCI) serves because the nationwide level of reference for overseas traders in Pakistan.
The survey is finished nose to nose, throughout the nation, overlaying 80 % of the GDP, with greater weightage given to key enterprise facilities within the nation, like Karachi, Lahore, Rawalpindi-Islamabad and Faisalabad.