Yousaf Hussain Takes Over as OICCI President for 2024-2026 Term

President and CEO of Faysal Bank Ltd. Yousaf Hussain has been elected as the new president of the Overseas Investors Chamber of Commerce and Industry (OICCI) for the 2024-2026 term. The announcement was made during the Chamber’s Extraordinary General Meeting held on Monday.

In addition to the president, Managing Director and CEO of Nestle Pakistan Ltd Jason Avancena was elected senior vice president, while Managing Director and CEO of Pakistan Tobacco Company (Pvt) Ltd Syed Ali Akbar will serve as vice president. The newly elected Managing Committee also includes key business leaders from sectors such as banking, telecommunications, pharmaceuticals, and manufacturing, further solidifying OICCI’s position as a major player in Pakistan’s economic landscape.

The new Managing Committee for the 2024-2026 term includes prominent business leaders:

1. Yousaf Hussain, Faysal Bank Ltd.

2. Jason Avancena, Nestle Pakistan Ltd

3. Syed Ali Akbar, Pakistan Tobacco Company (Pvt) Ltd

4. Aamir Hafeez Ibrahim, Pakistan Mobile Communications Ltd. (Jazz)

5. Ahmed Khan Bozai, Citibank NA, Pakistan

6. Asif Ahmad, IBM Italia SPA

7. Farheen Salman Amir, Lipton Pakistan Ltd.

8. Fahd K Chinoy, Pakistan Cables Ltd.

9. Hafsa Shamsie, Roche Pakistan Ltd.

10. Javed Ghulam Mohammad, Martin Dow Marker Ltd

11. M Adil Khattak, Attock Refinery

12. Muhammad Jawaid Iqbal, United Bank Ltd.

Together, this leadership team is expected to focus on shaping policies and fostering a more investment-friendly climate in Pakistan.

During his address to members, Hussain acknowledged the complex economic environment Pakistan faces, pointing to both challenges and opportunities. “Pakistan today stands at a critical crossroads. While inflation is easing and we’re seeing a slight recovery in GDP growth, the country still faces structural challenges. However, these challenges also represent opportunities for pushing necessary reforms, driving innovation, and fostering a business environment that promotes sustainable development,” he stated.

Outgoing president Rehan Shaikh, who will continue to serve as an ex-officio member of the Managing Committee, highlighted the Chamber’s role in engaging with government bodies and offering strategic solutions to pressing economic challenges. “In the 2023-2024 term, OICCI actively showcased Pakistan’s investment opportunities to foreign delegations and potential investors, emphasizing the country’s potential for growth and positioning it as an attractive destination for FDI.

Their efforts remain focused on unlocking Pakistan’s future economic prospects,” Shaikh remarked.

With over 25 years of professional experience, Yousaf Hussain has held various leadership roles in multinational organizations and has been actively engaged in strategic initiatives within the banking and financial sectors. He has worked closely with the State Bank of Pakistan, positioning himself as a key figure in driving policy discussions around economic reform and growth.