KARACHI: Gallup Pakistan released the first quarter report of Gallup Business Confidence Index 2024.
The current business situation score on the Gallup Business Confidence Index rose to 6 percent with an improvement of 7 percentage points compared to the negative one percent of the previous quarter. Scores have improved.
The current business score on the Gallup Business Confidence Index is recovering for the fifth consecutive quarter, with the outlook for businesses showing a 3 percent improvement over the previous quarter, but still 47 percent of businesses, particularly in apparel, commodities, stationery and gift items. Affiliated business owners are frustrated about business conditions.
Businesses are pessimistic about their expectations for future business conditions as the NetFuture business confidence score fell from 16% to 4% compared to the previous quarter.
The negative perception of business organizations about the direction of the country has decreased by 13 percent to negative 60 percent compared to the previous quarter and only 20 percent of the respondents said that Pakistan is moving in the right direction. And business organizations want the new government to control inflation.
Majority of the businesses included in the survey, 73%, do not expect that the newly elected government of Prime Minister Shehbaz Sharif will solve their business problems, while 25% of the businesses are hopeful that the new government will solve their business problems.
Bilal Ijaz Gilani, Executive Director of Gallup Pakistan and Chief Architect of Gallup Business Confidence Index Pakistan, said that after several quarters, more businesses have realized that their current situation is better than before, which is a positive news.
