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Foreign investors appreciate improved security environment in Pakistan

By Our Correspondent
July 10, 2019

KARACHI: Foreign investors have expressed satisfaction on significant improvement in Pakistan’s security environment, according to the annual survey conducted by the Overseas Investors Chamber of Commerce and Industry (OICCI) in June.

The Annual Security Survey 2019 is one of the critical annual assessment of the operating conditions in Pakistan and is taken very seriously by the potential foreign investors, relevant diplomats and other stakeholders interested in doing business in Pakistan.

While overall responses clearly convey continued improvement in the general security environment, the increase in street crimes, the attack on Chinese Consulate in Karachi, sporadic religious/communal attacks in Balochistan and some consequences of the recent spat between India and Pakistan, are also reflected in the survey.

The survey findings reaffirm that security environment across the country has improved as compared to the already improved situation at the time of the last survey in 2018. The improvement in security environment ranges from 40 percent in Balochistan to over 70 percent in Karachi and Lahore, the two cities where most of the head offices of OICCI members are located.

The visibly improved security situation has boosted confidence of foreign investors and is reflected in over 65 percent increase in the visit to Pakistan by OICCI members’ senior HQ/Regional management.

Further, most of the board of directors and management review meetings are now taking place in the country. The increase in visits is a vote of confidence in the improved security environment, although there were also some postponements of visits, mainly due to closure of air space after India-Pakistan air encounters in March 2019.

This is a strong indicator that Pakistan as a destination for investors has improved significantly with less concern on overall security situation.

This improved security environment has allowed many foreign business visitors and trade delegations being granted travel permissions for their visits to Pakistan from their respective embassies and travel security agencies.

Commenting on the survey, OICCI President Shazia Syed said, “The 2019 security survey once again depicts that security environment in Pakistan for all key stakeholders has substantially improved not only for the survey participants, but also for their customers, suppliers and employees.”

“Overall, OICCI 2019 Security Survey feedback points to a clear appreciation by the foreign

investors of the various initiatives of the government and the security agencies in proactively

tackling the security, law and order challenges, which had serious repercussions on the image of the country as a safe destination for FDI,” she added.

The security survey results in respect of serious crimes such as abductions/hostage taking and “Bhatta” demands indicated a massive reduction, led by Khyber-Pakhtunkhwa where 88 percent of respondents have reported a decrease over last year; followed by Lahore with 87 percent and rest of Punjab/Karachi with 83 percent.

Even in Quetta and the rest of Balochistan serious crimes are reported to be down by over 60 percent, as compared to last year.

In respect of petty crimes, i , mobile, cash snatching and car snatching, the survey results indicate a downward trend ranging from 92 percent in Islamabad; followed by 87 percent in Lahore, 83 percent in Karachi, 82 percent in Peshawar and 66 percent in Quetta.

More than 300 foreign visitors from OICCI members HQ/regional offices came to Pakistan during the year. The highest number was from European countries; followed by China, Britain, the UAE, US and the rest of Asia.