Latest news with #YousafHussain
Business Recorder
3 days ago
- Business
- Business Recorder
Oil sector in Pakistan: Minister outlines key investment opportunities
KARACHI: Federal Minister for Petroleum Ali Pervaiz Malik outlined key investment opportunities in upstream exploration, pipeline development, and downstream processing, aligned with the global shift toward cleaner energy in a meeting with the Overseas Investors Chamber of Commerce and Industry (OICCI). OICCI held a detailed interactive session with Ali Pervaiz Malik, attended by senior business leaders from both local and multinational companies. Discussions focused on Pakistan's energy priorities and the path to long-term economic stability. The Minister reaffirmed the government's commitment to structural reforms, accelerated policy execution, and enhanced industry engagement. He cited recent resolution of refinery-sector challenges as a positive example of collaborative progress. During the meeting, the Minister outlined key investment opportunities in upstream exploration, pipeline development, and downstream processing, aligned with the global shift toward cleaner energy and invited the foreign companies for investment. He further highlighted the recent FDI-related successes in attracting foreign investment in the mining sector, which aim to unlock the country's untapped natural resources and drive future exports and industrial diversification. Yousaf Hussain, President of OICCI and CEO of Faysal Bank, emphasised the importance of policy consistency, technocratic execution, and a joint, collaborative roadmap to achieve deep-rooted economic stability and sustainable growth. He noted that closer engagement between the government, OICCI, and industry in both policy formulation and execution will be essential to delivering results and strengthening investor confidence. Copyright Business Recorder, 2025
Business Recorder
3 days ago
- Business
- Business Recorder
Oil sector: Minister outlines key investment opportunities
KARACHI: Federal Minister for Petroleum Ali Pervaiz Malik outlined key investment opportunities in upstream exploration, pipeline development, and downstream processing, aligned with the global shift toward cleaner energy in a meeting with the Overseas Investors Chamber of Commerce and Industry (OICCI). OICCI held a detailed interactive session with Ali Pervaiz Malik, attended by senior business leaders from both local and multinational companies. Discussions focused on Pakistan's energy priorities and the path to long-term economic stability. The Minister reaffirmed the government's commitment to structural reforms, accelerated policy execution, and enhanced industry engagement. He cited recent resolution of refinery-sector challenges as a positive example of collaborative progress. During the meeting, the Minister outlined key investment opportunities in upstream exploration, pipeline development, and downstream processing, aligned with the global shift toward cleaner energy and invited the foreign companies for investment. He further highlighted the recent FDI-related successes in attracting foreign investment in the mining sector, which aim to unlock the country's untapped natural resources and drive future exports and industrial diversification. Yousaf Hussain, President of OICCI and CEO of Faysal Bank, emphasised the importance of policy consistency, technocratic execution, and a joint, collaborative roadmap to achieve deep-rooted economic stability and sustainable growth. He noted that closer engagement between the government, OICCI, and industry in both policy formulation and execution will be essential to delivering results and strengthening investor confidence. Copyright Business Recorder, 2025
Business Recorder
4 days ago
- Business
- Business Recorder
Energy sector: Key investment opportunities outlined
KARACHI: Federal Minister for Petroleum, Ali Pervaiz Malik outlined key investment opportunities in upstream exploration, pipeline development, and downstream processing, aligned with the global shift toward cleaner energy in a meeting with the Overseas Investors Chamber of Commerce and Industry (OICCI). The OICCI held a detailed interactive session with Federal Minister for Petroleum, Ali Pervaiz Malik, attended by senior business leaders from both local and multinational companies. Discussions focused on Pakistan's energy priorities and the path to long-term economic stability. The Minister reaffirmed the government's commitment to structural reforms, accelerated policy execution, and enhanced industry engagement. He cited recent resolution of refinery-sector challenges as a positive example of collaborative progress. During the meeting, Minister petroleum outlined key investment opportunities in upstream exploration, pipeline development, and downstream processing, aligned with the global shift toward cleaner energy and invited the foreign companies for investment. He further highlighted the recent FDI-related successes in attracting foreign investment in the mining sector, which aim to unlock the country's untapped natural resources and drive future exports and industrial diversification. Yousaf Hussain, President of OICCI and CEO of Faysal Bank, emphasized the importance of policy consistency, technocratic execution, and a joint, collaborative roadmap to achieve deep-rooted economic stability and sustainable growth. He noted that closer engagement between the government, OICCI, and industry. in both policy formulation and execution. will be essential to delivering results and strengthening investor confidence. Copyright Business Recorder, 2025
Business Recorder
23-05-2025
- Business
- Business Recorder
OICCI presents BCI survey findings to Aurangzeb
ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met on Thursday at the Finance Division with a delegation from the Overseas Investors Chamber of Commerce and Industry (OICCI), led by President Yousaf Hussain. The meeting focused on the latest results of the OICCI's Business Confidence Index (BCI) Survey Wave 27, conducted nationwide during March and April 2025. The OICCI delegation presented the findings of the survey, which showed a marked improvement in overall business confidence across the country. The finance minister welcomed the upward trend in business sentiment, viewing it as a strong indicator that the country's economic trajectory is stabilising. He acknowledged the importance of maintaining a conducive environment for investment and emphasised the government's focus on supporting private sector growth and ensuring long-term macroeconomic resilience. The improvement in business confidence was seen as a reflection of broader reform efforts and collaborative engagement between the government and key economic actors. The OICCI president noted that business confidence had steadily improved over the past two years, with the latest surge highlighting the resilience of Pakistan's business sector and its optimism in tapping into future growth opportunities. The survey's findings also underscored increasing trust in the government's economic direction and reform measures. In response, the finance minister affirmed that the government would continue to take necessary actions to sustain this positive momentum. Policy consistency, transparency, and proactive engagement with stakeholders, including OICCI members, were identified as central elements of the government's approach to further strengthening investor confidence and economic stability. Copyright Business Recorder, 2025
Business Recorder
23-05-2025
- Business
- Business Recorder
Business trust improves significantly: OICCI's survey
ISLAMABAD: The Overseas Investors Chamber of Commerce and Industry (OICCI) on Thursday unveiled the results of its bi-annual Business Confidence Index (BCI) Survey – Wave 27, conducted across Pakistan in March and April 2025 which reflects significant improvement in overall business confidence, which improved substantially by 16 percentage points from negative 5 percent to positive 11 percent, compared to the previous wave conducted in October November 2024. However, the respondents have identified corruption, rupee devaluation, security threats/ street crimes, inflation, taxation and inconsistent government policies as threats, of which the share of inflation was 80 per cent, taxation 80 per cent, inconsistent government policies 67 per cent, rupee devaluation 66 per cent, corruption 54 per cent and security threats/ street crime 51 per cent. Talking to media OICCI President, Yousaf Hussain, Jason Avancena, Syed Akbar Ali and CE/ Secretary General, Abdul Aleem said the positive shift in sentiment across various sectors of the economy can largely be attributed to macroeconomic stability, declining inflation, and anticipated improvements in business conditions over the next six months. Pakistan's business confidence improves, but investment outlook dims: survey The manufacturing sector led the recovery in the overall business confidence, improving from negative three percent to positive 15 percent, followed by the retail/wholesale sectors, which rose from negative 18 percent in the previous Wave 26 to positive two percent in the latest survey. The Services sector maintained a steady outlook and jumped from two percent to 10 percent positive in Wave 27. 'The uptick in business confidence is a clear sign that our economic direction is on the right track. We are focused on creating a conducive environment for investment, supporting private sector growth, and ensuring long-term macroeconomic resilience. The improved sentiment among businesses is both encouraging and a validation of our collective efforts,' Yousaf Hussain quoted Finance Minister Muhammad Aurangzeb as saying during a meeting on Thursday. 'Over the past two years, overall business confidence has shown a notable improvement across the business community. This sharp recovery in the Business Confidence in the latest Wave 27 reflects the resilience of Pakistan's business sector and its readiness to seize emerging growth opportunities. It is heartening to see positive momentum across key sectors, which reflects improved sentiment and growing trust in the country's economic direction. To maintain this growing positivity in the business confidence' Yousaf Hussain said, adding 'there must be greater policy consistency, transparency and active engagement with the key stakeholders including OICCI members.' The BCI Wave 27 survey revealed increased optimism for the next six months, with 45 percent of the respondents expressing positive expectations. Key contributors to this positive outlook include economic growth, improved government policies, investment climate, and security situation. Despite the positive trend, 53 percent of the survey respondents reported a negative outlook on business conditions over the past six months, which is a substantial improvement from 66 percent negative sentiments in Wave 26. The key concerns indicated in the survey related to political stability, Rupee FX parity, Energy, and trade policies. The BCI of foreign investors, OICCI members randomly selected for the survey, showed a remarkable increase from positive six percent to 17 percent. This improvement is primarily attributed to better global business climate, an improved industry environment in Pakistan over the past six months, and expectations of increased capital investment in the coming six months. Abdul Aleem, Chief Executive/Secretary General OICCI, further highlighted, that the latest BCI Wave 27 results were better than anticipated, with positive expectations reflected across all major sectors. 'Employment prospects, expansion plans, and investment expectations demonstrated notable gains, particularly in the manufacturing and retail sectors.' 'New investment plans overall showed an improvement of 19 percent, but remained negative, which is an area of concern and needs to be addressed to further accelerate economic growth, energize Large Scale Manufacturing, trade and export,' he said. The OICCI BCI survey is conducted twice a year and reflects the views of major business stakeholders representing nearly 80 percent of Pakistan's GDP. The survey covers responses from various sectors, including manufacturing, services, and retail/wholesale, and assesses perceptions at regional, national, and business entity levels. The survey is conducted face to face throughout the major business centres of the country including Karachi, Lahore, Rawalpindi /Islamabad, Peshawar, Faisalabad etc. Copyright Business Recorder, 2025
