OICCI seeks capital, export push

The Overseas Investors Chamber of Commerce and Industry (OICCI) has underlined the importance for Pakistan to use the gains from macroeconomic stabilisation to accelerate private investment, exports, energy security and structural reforms during a meeting with a visiting delegation of the International Monetary Fund (IMF). The delegation, comprising Iva Petrova, Adviser, Middle East and Central Asia Department, IMF, and Mahir Binici, Resident Representative, IMF, met senior OICCI leadership and representatives of member multinational companies on Thursday. The chamber highlighted the decline in FDI despite improvements in Pakistan's external position and sovereign credit profile, noting that net FDI fell by around 32% to $1.7 billion in FY26. OICCI called for lower regulatory and compliance burdens, stronger investor protection and clearer coordination among federal and provincial authorities. It also emphasised that domestic industry must lead by reinvesting in Pakistan, as foreign investors take cue from the confidence demonstrated by local businesses. Amid higher oil prices linked to the Middle East conflict, the OICCI called for immediate energy conservation and a medium-term plan for greater energy self-sufficiency. It also called for a coherent energy security strategy covering power, gas and petroleum, citing high regional energy costs, circular debt, the need for investment in refining and opportunities for regional energy cooperation. On the external sector, the OICCI stressed that Pakistan could not sustain higher growth without expanding its capacity to earn foreign exchange. It underscored the need for greater competitiveness and productivity, stronger export-oriented sectors, deeper trade and investment ties with key markets and greater regional trade where commercially viable. On structural reform, the chamber sought faster SOE reforms and credible privatisation where continued state ownership had no compelling policy rationale. It also advocated the separation of state's roles as a policymaker, regulator, facilitator and commercial operator to create greater space for private-sector investment and competition. The chamber emphasised the broadening of tax base to cover under-taxed segments, including agriculture, real estate, SMEs and retail, rather than repeatedly increasing the burden on documented businesses.