KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) has raised serious concerns over the country’s deteriorating security environment, particularly in Karachi, compared to other cities where the security situation has improved.
In the OICCI’s Security Survey 2024, respondents reported a deterioration in the overall security situation in 2024 compared to 2023. Specifically, Karachi saw a worsening situation from 69 per cent to 80pc, with members expressing concerns about growing incidents of street crime not only in the metropolis but across Sindh.
Similarly, Balochistan’s security situation also worsened, increasing from 68pc per cent to 75pc, according to the survey conducted in June 2024, compared to last year. The survey covered members’ feedback on the security environment in Pakistan’s commercial hubs.
On a positive note, marginal improvements were noted in Lahore, where the security situation improved from 73pc to 49pc, Punjab from 63pc to 53pc and Peshawar from 68pc to 58pc.
Security remains one of the top three concerns for doing business in Pakistan for 71pc of the survey respondents, consistent with the 2023 survey.
OICCI management committee member Kamran Ataullah Khan said: “Our members stress the importance of sustained efforts by law enforcement agencies to enhance security, which is crucial for attracting foreign direct investment (FDI).”
He pointed out that economic instability and security incidents have impacted visits by foreign nationals for business purposes.
OICCI Secretary General M. Abdul Aleem highlighted that the survey provides detailed feedback from foreign investors on various aspects of doing business related to security, such as street crimes, expatriate security, illegal gratification, and protests.
During 2024, responses were received from over two-thirds of members, including CEOs and senior management. Approximately 75pc of OICCI members are based in Karachi, with the remainder in Lahore and Islamabad, operating throughout the country.
Published in Dawn, July 11th, 2024
