KARACHI: The annual economic survey report of the Overseas Investors Chamber of Commerce and Industry (OICCI) claims that members of the chamber have invested $22 billion in Pakistan in the last 10 years.
OICCI’s 2023 Annual Economic Survey highlighted the significant contribution of its members to Pakistan’s economy and stated that in 2023, OICCI’s 139 member companies had assets of 29.6 trillion, 482 trillion rupees. Capital expenditure, government revenue of Rs 2.4 trillion and gross revenue of Rs 10.4 trillion have been shown.
Despite the challenges facing the country, OICCI members have contributed more investments and economic partnerships than other foreign investors over the past decade, the report said.
It was reported that during the last 10 years (2013 to 2023), foreign direct investment of $19.8 billion was made in Pakistan, in addition, OICCI members reinvested $22.6 billion during this period. .
Highlighting the confidence of OICCI members on Pakistan’s economy, OICCI President Rehan Shaikh said that currently Pakistan is facing economic challenges, the continued confidence of OICCI members. And investment provides a strong foundation for future growth.
He said that 51 of the OICCI member companies have shown significant growth in their financial performance, with a pre-tax compound annual growth rate of 30.2 percent from 2019 to 2023 compared to 18.9 percent between 2018 and 2022. increased.
The report stated that the turnover of these companies in 2023 was 6747 billion rupees and these companies earned a total profit of 1130 billion rupees before tax. Leasing sector’s turnover of Rs 1555 billion in 2023 highlights the diverse contribution of various industries to Pakistan’s economy.
Commenting on the results of the survey, OICCI Chief Executive and Secretary General M. Abdul Aleem said that the significant contribution of OICCI members to the development of Pakistan’s economy is an important role of foreign investment. Marks.
He said that apart from the financial contribution, OICCI members will share best practices in the areas of technology transfer, digital transformation, introduction of latest innovations and manufacturing plant operation, supply chain and marketing of internationally renowned brands. also play an important role.
The report stated that OICCI members invested Rs 13 billion in CSR projects in 2023.
