Pakistan’s business confidence score drops to negative 4%
Pakistan’s Business confidence The Score (BCS) fell to negative 4% in September-October 2022, from positive 17% in March-April 2022, the Overseas Investors Chamber of Commerce and Industry (OICCI) announced on Wednesday.
gave OICCI The Comprehensive Business Confidence Index (BCI) Survey – View was conducted from September 22 to October 2022 across the country.
It revealed that the biggest decline in confidence was recorded in the “services sector” (24%), followed by the “retail and wholesale trade” (22%) and the manufacturing sector (20%).
The survey sample comprised 42% of respondents from the manufacturing sector, 33% from the services sector, and 25% from retail/wholesale trade. Commenting on the BCS, OICCI President Ghiyas Khan said, “The significant decline in overall business confidence to negative 4 percent is regrettable but surprising given the extremely challenging political and economic environment during the last six months. no.”
A lot more than that High inflation And rising fuel prices, significant currency depreciation also reduced economic activity. Sentiment among OICCI members, leading foreign investors, who were randomly included in the survey, stands at a positive 6%, down from a positive 33% in the previous wave. Foreign investors have shown more confidence than non-members in the past as well.
