Pakistan's business confidence amongst the foreign firms improved dramatically in May to July 2021, said a survey on Monday, as economic activity picked up and COVID-19 vaccines started rolling out in the country.
“The overall Business Confidence Score (BCS) in Pakistan now stands at positive score of 9 percent, a record improvement by 59 percent from the previous negative 50 percent score in Wave 19 Survey conducted in May 2020,” revealed Business Confidence Index (BCI) Survey – Wave 20 conducted by the Overseas Investors Chamber of Commerce and Industry (OICCI).
The survey was conducted throughout the country during May to July 2021. A positive BCI was last seen during Wave 16 conducted in April 2018. A statement by the OICCI said the confidence of the business community across Pakistan shifting over from negative territory in last survey to positive territory was driven by all the three segments, manufacturing, services, as well as the retail/wholesale sectors, with the first two recording an increase of 65 percent each, (manufacturing from -48 percent to positive 17 percent and services from -59 percent to positive 6 percent) whilst the retail/wholesale sector went up by 44 percent (from -4 percent to 0).
Meanwhile, Prime Minister Imran Khan tweeted, “More good news on econ front. OICCI's BCI Survey shows Pak standing at positive score of 9%, an improvement of 59% from -50% score of May '20. OICCI mbrs confidence stands at +34% vs -74% in 2020, a turnaround of 108%. Dramatic rise in confidence of business esp foreign investors”.
Meanwhile, Prime Minister Imran Khan Monday directed all possible steps to ensure smooth supply of raw materials and basic commodities like ghee and stability in their prices. He was chairing a review meeting here on the supply and demand of basic commodities and construction materials and price stability.
Finance Minister Shaukat Tareen, Industries and Production Minister Khusro Bakhtiar, Chairman New Pakistan Housing Authority Lt Gen (R) Anwar Ali Haider and other senior officials attended the meeting.
Deliberations were held on the supply and demand of ghee, cement and lead in the country and their prices. Imran said uninterrupted progress in the development of construction sector, especially in the construction of low cost houses, was the top priority of the government and all possible steps should be taken to ensure uninterrupted supply as per the demand for raw materials used in construction as well as basic commodities like ghee.
Imran expressed satisfaction over the performance of the Ministry of Education in implementing the national curriculum so far and emphasized that implementation of the curriculum should be constantly reviewed and changes should be made as required.
“The curriculum for sixth to twelfth grades should be finalized by the end of this year,” prime minister directed the ministry while chairing a review meeting on implementation of National Uniform Curriculum here.
The meeting was attended by Federal Minister Shafqat Mehmood, Special Assistant Dr. Shahbaz Gill, Parliamentary Secretary Ms. Wajiha Akram and senior officials of the Federal Ministry of Education.
Shafqat Mahmood gave a detailed briefing to the meeting on the teaching of Siratun Nabi (SAW) included in the curriculum and that in this regard, all schools of thought, especially scholars, have been consulted in detail and attention has been paid to the quality of teacher training and examinations.
“Siratun Nabi (SAW) is a beacon for our new generation. The most important aspect of the life of the Prophet (PBUH) is morality and good manners. The best solution to all social problems is found in the teachings of Siratun Nabi,” prime minister said while addressing the meeting.
He said along with the history of Islam, the golden principles derived from the blessed life of the Holy Prophet (SAW) should be taught and explained to the children.
Prime Minister Imran Khan Monday directed all the provincial governments to finalize the preparations for the Expo 2020 in Dubai as soon as possible, emphasizing that special attention should be paid to highlighting the abundant investment opportunities in Pakistan.
He contended that special focus should be given to projects like Ravi River Project, Central Business District as well as tourism in Khyber Pakhtunkhwa and Northern Areas, promotion of domestic mineral resources, IT and religious tourism and attracting international investment in these sectors.
“With the active participation of all provinces including Gilgit-Baltistan, Azad Jammu and Kashmir, important provincial projects should be highlighted during the expo,” he maintained. In this connection, Prime Minister Imran Khan chaired a review meeting on Pakistan's participation in Expo 2020 in Dubai and preparations made in this regard.
The meeting was attended by Information Minister Chaudhry Fawad Hussain, Trade Adviser Abdul Razak Dawood, Special Assistant Dr Shahbaz Gill, secretaries of relevant ministries, chief executive Trade Development Authority and other senior officials.
The meeting was informed that Pakistan's full participation in this international expo would open up new avenues for trade and investment where the international community would be introduced to various aspects of Pakistan. The prime minister also chaired a high-level review meeting on progress in the establishment of special technology zones in the country.
