LAHORE: Business confidence in Pakistan has improved by four percentage points, though it remains negative, as reflected in the 25th Wave of the Business Confidence Index (BCI) survey conducted by the Overseas Investors Chamber of Commerce and Industry (OICCI).

The survey was conducted across Pakistan during March-April 2024.

“The OICCI Business Confidence Index has shown some positive signs of economic recovery, rising to negative 14 per cent in March-April 2024 from negative 18pc in the previous survey of October-November 2023,” OICCI President Rehan Sheikh said in a statement.

“This upward trend, albeit small, indicates a more optimistic business environment, supported by improving economic growth, a stable exchange rate, and declining inflation,” he said.

Going forward, the survey respondents have expressed anticipation of rising inflation, high taxation, and inconsistent government policies as key threats to business growth.

The OICCI said the survey results reflect feedback from about 80pc of GDP stakeholders.

The sectoral breakdown reveals that compared to the last wave, confidence declined substantially to negative 15pc among firms in the manufacturing sector, indicating significant challenges confronting this sector.

Published in Dawn, June 4th, 2024