Karachi
\nThe Overseas Investors Chamber of Commerce and Industry (OICCI), the representative body for the top 210 foreign investors in Pakistan, revealed substantial contributions by its members to Pakistan\u2019s economy in its 2023 annual economic contribution survey.
\nOver the past 10 years, from 2013 to 2023, Pakistan received a net Foreign Direct Investment (FDI) of $19.8 billion.
\nDuring the same period, OICCI members contributed $22.6 billion, showcasing a significant commitment to the country\u2019s economic development. This robust investment underscores the confidence foreign investors have in Pakistan\u2019s long-term potential.
\nIn 2023, the 139 OICCI member companies reported assets amounting to Rs29.6 trillion, capital expenditure of Rs482 billion, government levies of Rs2.4 trillion, and gross revenue of Rs10.4 trillion.
\nDespite the challenges faced by the country, OICCI members have shown more confidence than other foreign investors over the last decade, as reflected in the investment figures and economic contributions.
\nHighlighting members\u2019 confidence in the Pakistan economy, OICCI President Rehan Shaikh said, \u201cas Pakistan navigates its economic challenges, the sustained confidence and investment by OICCI members provide a solid foundation for future growth and development.\u201d
\nAmong the OICCI members, 51 are listed companies that have demonstrated remarkable growth in their financial performance. From 2019 to 2023, the Compound Annual Growth Rate (CAGR) of profit before tax surged to 30.2% compared to a CAGR of 18.9% between 2018 and 2022. In 2023, these companies reported a cumulative profit before tax of Rs1,130 billion and a turnover of Rs6,747 billion.
\nThe sector-wise turnover for 2023 highlights the diverse contributions of various industries to Pakistan\u2019s economy with the Oil, Gas & Energy recording Rs4,857 billion and Banking, Insurance, Finance & Leasing Rs1,555 billion.
\nCommenting on the survey findings, OICCI CE\/Secretary General M Abdul Aleem said, \u201cThe significant contributions of OICCI members underscore the pivotal role of foreign investment in bolstering Pakistan\u2019s economy.\u201d He added, \u201cThe diverse sectoral contributions reflect a broad-based economic engagement, with key sectors such as oil and gas, banking, and consumer products leading the way.\u201d
\nBesides the monetary contribution, OICCI members also play a leading role in the transfer of technology, digital transformation, introducing latest inventions and sharing of best practices in the field of manufacturing operation, supply chain and marketing of internationally renowned brands.
\nBy investing Rs13 billion in 2022-2023 in Pakistan\u2019s communities through its Corporate Social Responsibility (CSR) activities, the members have positively impacted 40 million individuals across the country.<\/p>\n","protected":false},"excerpt":{"rendered":"
Karachi The Overseas Investors Chamber of Commerce and Industry (OICCI), the representative body for the top 210 foreign investors in Pakistan, revealed substantial contributions by its members to Pakistan\u2019s economy in its 2023 annual economic contribution survey. Over the past 10 years, from 2013 to 2023, Pakistan received a net Foreign Direct Investment (FDI) of […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-423318","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n