KARACHI: The managing committee of Overseas Investors Chamber of Com­merce and Industry (OICCI) has expressed its dismay over poor foreign direct investment (FDI) inflow of only $87 million during July-August 2014 period.

Referring to FDI figures released by the State Bank of Pakistan, the OICCI committee stated that a significant drop of 37 per cent, even if compared to the very low base of the same period last year, is alarming.

Commenting on the dismal FDI inflow, OICCI president Asad S Jafar said that it highlights the fact that “potential overseas investors are giving more weightage to security, energy shortages and transparency in governance, and ignoring business-friendly policies and high business potential in Pakistan.”

The OICCI members, however, had been investing over one billion dollars annually from their retained earnings.

The managing committee of the OICCI, while reviewing the business environment, urged the federal and provincial governments to take necessary measures to attract higher FDI inflows.

Published in Dawn, September 18th , 2014