Improvement in security environment raises comfort level of foreign investors
KARACHI: OICCI members have appreciated the improving law and order situation especially in Karachi and maintained a positive perception in the annual OICCI members Security survey conducted by the Chamber in June 2016. This was a follow up of the survey conducted in Q2 2015 to gauge foreign investor perception on the security environment in the country since 2013, after the launch of the Karachi operations and “Zarb-e-Azb” initiative.
While the overall survey results were considerably positive for Karachi, Lahore and Islamabad especially on major security risk and threats to business, the foreign investors have concern on the growing number of street crime especially in Karachi. Nearly 90% of the respondents were of the view that the general threats to business had reduced as compared to the situation prior to August 2013, with 97% stating that security concerns have reduced for own business, customer business, suppliers business and employees. [the_ad id="31605"]Compared to the last survey in 2015, 74% of the respondents experienced a reduction in security incidents including in serious crimes like abductions/hostage taking and “Bhatta” demands. Most importantly, 87% of the survey respondents reported that their staff now feels more comfortable in their everyday commute to/from the workplace. Another significant feedback from the 2016 OICCI Security Survey is that more overseas/expat visitors are travelling to Pakistan and hardly any meeting is being held outside Pakistan because of security concerns, a common cause prior to August 2013. Furthermore confidence level of overseas/expat visitors has gone up according to 73% of respondents.
Commenting on the security survey results, Shahab Rizvi, OICCI President complimented the relevant authorities throughout Pakistan, especially Sindh Rangers and Karachi Police, for improving security environment which is an appreciation by the foreign investors of the various initiatives of the government in tackling the serious security, law and order situation which had escalated to serious level by mid 2013. However despite the improvement, Shahab Rizvi added, the foreign investors still consider security, law and order as their top concern in doing business in Pakistan. OICCI is confident that with continuing focused attention and commitment of the government and law enforcement agencies , Pakistan will soon be able to attract even large number of overseas visitors and Foreign investment (FDI) in addition to those coming under the CPEC projects.