More than 200 foreign investors in Pakistan have voiced their concerns over the country’s deteriorating security situation, as revealed in the Overseas Investment Chamber of Commerce (OICCI) Security Survey 2024.
The annual survey, conducted in June 2024, highlights a noticeable decline in the overall security landscape compared to the previous year. According to the OICCI, 80% of the participants reported a worsening security situation in Karachi, up from 69% in 2023.
The rising tide of street crimes has not only plagued Karachi but has also spread across Sindh, exacerbating investors' concerns.
The survey indicates a similar trend in Balochistan, where the security situation deteriorated from 68% to 75%. Conversely, some regions experienced slight improvements.
Lahore’s security condition improved significantly, with a decline from 73% to 49%, while Punjab saw a decrease from 63% to 53%. Peshawar also reported an improvement, with security concerns dropping from 68% to 58%.
Despite these pockets of progress, a substantial 71% of survey participants cited security concerns as their primary obstacle to doing business in Pakistan, mirroring last year's sentiment. The growing security challenges are increasingly hindering foreign investors and companies operating in the country.
OICCI members emphasized that the deteriorating security situation poses a significant threat to the business environment, making it imperative for the government to address these issues promptly.
