IMF Delegation Engages with OICCI on Economic Issues

The Overseas Investors Chamber of Commerce and Industry (OICCI) convened a dialogue between a visiting International Monetary Fund (IMF) delegation, led by Iva Petrova and Mahir Binici, and CEOs of leading member multinational companies. The discussion focused on Pakistan’s economic outlook and the perspectives of foreign investors operating in the country.

OICCI President Mr. Yousaf Hussain acknowledged the progress achieved in macroeconomic stabilisation. Fiscal consolidation is strengthening, primary balance discipline is improving, the external account has stabilised with reserve buffers rebuilding, inflation is moderating, and the financial sector remains resilient. The recent improvement in Pakistan’s credit ratings reflects enhanced fiscal discipline and renewed international credibility under the ongoing reform programme.

While recognising these gains, Mr. Hussain emphasised, “The priority now is to transition from stabilisation to a phased yet sustained export-led growth path. Translating macroeconomic stability into higher productivity, employment, and investment requires a shift from fragmented measures to a centrally coordinated, technocrat-supported and well-sequenced medium-term reform programme under a comprehensive National Economic Plan. Such a plan should integrate fiscal, trade, industrial, energy, and human capital policies with clear milestones, transparent monitoring, and deeper coordination between the federation and provinces to achieve national economic priorities.”

Secretary General OICCI Mr. M. Abdul Aleem noted that Pakistan’s strong geo-economic positioning offers significant potential that must be unlocked through greater policy coherence, predictability, and investment-focused improvements in the regulatory framework. He stressed the need for stronger incentivisation of export-led industrialisation to attract sustained long-term investment inflows.

“Pakistan’s taxation framework continues to face structural challenges, particularly a narrow tax base and the disproportionate burden on the documented and compliant sector, including the salaried class,” said Mr. Aleem. “To enhance competitiveness and restore investor confidence, there is a need for a rationalised and competitive tax and import tariff regime, supported by a strong and consultative tax policy function and a clear medium-term policy direction. Equally important is avoiding retrospective taxation, ensuring timely clearance of pending tax refunds, simplifying compliance procedures, and strengthening documentation and enforcement across the economy,” he added.

OICCI reaffirmed its commitment to continued engagement with policymakers and international partners to support reforms that sustain stability and promote long-term investment in Pakistan.